Metaplanet, a Tokyo-based company, has seen its Bitcoin holdings increase by $28 million since it began buying the cryptocurrency. This is a significant jump for the company, with Metaplanet’s valuation gain on its Bitcoin holdings now reaching 4.27 billion yen. The company is also exploring Bitcoin options trading and aims to expand its holdings.
Despite these investments, Metaplanet reported a net loss of $2.1 million for the nine months ending September 30, 2024, though its revenue increased by 46.3% year-over-year to $1.7 million.
