Metaplanet Claims Top Spot as 2024’s Best-Performing Public Equity, Rides $36M Bitcoin Gains
Metaplanet (3350) has reported its full-year 2024 financial results, revealing an unrealized profit of approximately $36 million (5.46 billion yen) on its bitcoin holdings. The company currently holds 1,761 BTC, acquired at a total cost of $137 million.
The bitcoin-focused firm also saw a remarkable 500% surge in its shareholder base, growing to 50,000 investors over the past year.
Metaplanet has outlined multiple strategies to continue increasing its BTC holdings per share. One method involves debt issuance, leveraging secured and convertible bonds while using bitcoin as collateral. The other strategy relies on equity issuance, utilizing private placements, preference shares, convertible bonds, and warrants, along with reinvesting cash flow from operations.
Looking ahead, the company aims to acquire 10,000 BTC by the end of 2025 and expand its reserves to 21,000 BTC by the close of 2026. To fund this aggressive accumulation, Metaplanet plans to issue 21 million shares via moving strike warrants.
Shares of Metaplanet surged 8% on Monday, bringing their year-to-date gains to an impressive 64%.
