Metaplanet, the Japanese hospitality firm, has reported an impressive financial performance for the first quarter, reaching a record-breaking $6 million in revenue. The success is largely attributed to the company’s Bitcoin treasury strategy, which contributed 88% of its Q1 earnings, totaling 877 million Japanese yen ($6 million).
The company’s Bitcoin holdings have experienced substantial growth, with Metaplanet increasing its BTC stash by 3.9x to 6,796 BTC. This surge has earned it the position of the 11th-largest public company globally by Bitcoin holdings and the number one spot in Asia. As of May 10, Metaplanet has raised 76.6 billion yen ($524.8 million) through a moving-strike warrant program, funding its BTC purchases and getting closer to its goal of accumulating 10,000 BTC.
Despite recording an unrealized loss on its BTC holdings at the end of Q1, the company has fully recovered with recent Bitcoin price gains. As of May 12, Metaplanet is now sitting on unrealized BTC gains of 13.5 billion yen ($92.5 million).
Thanks to its successful Bitcoin strategy, Metaplanet has not only achieved a record quarter but also urges other companies to adopt Bitcoin as a key part of their capital strategy. The company aims to continue leading the charge in bridging capital markets with Bitcoin’s potential.
