Metaplanet Shares Soar Amid Regulatory Scrutiny of Bitcoin Strategy

The Japanese investment firm Metaplanet has reported staggering third-quarter results, revealing a 1,700% surge in revenue to 4.3 billion yen. This performance stands in stark contrast to the same period last year. The company’s net profit skyrocketed to 13.5 billion yen, a dramatic reversal from a loss of 321 million yen previously.

Metaplanet’s substantial investment in Bitcoin continues to be the primary driver of its financial transformation. The firm has amassed a treasury of 30,823 BTC, establishing itself as Asia’s largest publicly-traded corporate holder of the cryptocurrency and the fourth-largest globally. This aggressive acquisition strategy has significantly bolstered the company’s balance sheet, which now totals 550.7 billion yen, supported by an equity ratio Read more...