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Bitcoin HODLer Metaplanet Achieves $35M Unrealized Gains in 2024 Thanks to BTC Treasury
Metaplanet said it was the best-performing equity in 2024 out of 55,000 publicly listed companies.
What to know:
- Metplanet announced full-year 2024 results, achieving an unrealized gain of $36 million (5.46 billion yen).
- Metaplanet plans to acquire up to 21,000 BTC by year-end 2026.
- Metaplanet shares were up 8% on Monday and up 64% year to date.
Metaplanet (3350) announced full-year 2024 financial results and is now sitting on an unrealized gain of approximately $36 million (5.46 billion yen) on a total of 1,761 BTC, acquired for $137 million.
The bitcoin investor said it increased its shareholder base by 500% to 50,000 in 2024.
STORY CONTINUES BELOW
Metaplanet has several ways of increasing bitcoin holdings per share. The first is debt issuance, which is achieved through secured bonds, convertible bonds, and the use of bitcoin as collateral.
The second is equity issuance through private placement, preference shares, convertible bonds and warrants on top of cash flow from business operations, according to the presentation.
The firm plans to acquire 10,000 BTC by the end of 2025 and 21,000 BTC by 2026-end. This will be achieved by issuing 21 million shares in moving strike warrants.
Metaplanet shares were up 8% on Monday and up 64% year to date.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
