Japanese company Metaplanet’s revenue has surged significantly after focusing mainly on Bitcoin. According to the company’s latest annual report, it made almost $58 million this year, up from just $7 million the year before. This indicates that in just one year, its revenue has increased by 738%.
Almost 95% of the company’s income now comes from activities related to Bitcoin. Most of the money was earned by trading Bitcoin options. The company started its strategy focused on Bitcoin in late 2024 and made it its main business.
Even though its net profit has reached to around $40 million, Metaplanet has suffered a large net loss. This happened because accounting rules require companies to report changes in Bitcoin’s price. When Bitcoin’s value dropped, the company had to record that loss on paper.
Metaplanet now owns more than 35,000 Bitcoins and says it plans to keep holding Bitcoin for the long term.
You need to login in order to Like
Leave a comment