Metaplanet's Bitcoin Strategy Drives 170% Yield Increase

Metaplanet, a Tokyo-listed investment firm, reported a significant operating profit of 592 million yen ($4 million) for the first quarter of 2025. This impressive performance was largely driven by the company's bitcoin-based income strategies. The firm generated 877 million yen in revenue, with a substantial 88% of this revenue coming from option premium harvesting on bitcoin.

Metaplanet's bitcoin holdings saw a notable increase, growing by over 5,000 BTC during the quarter to reach a total of 6,796 BTC. This aggressive accumulation has positioned Metaplanet as the 11th-largest public company by bitcoin holdings globally and the top in Asia. The firm has achieved 68% of its 10,000 BTC target, just over four months after adopting its bitcoin standard on April 8, 2024.

To finance its bitcoin accumulation, Metaplanet employed a multi-faceted capital strategy. The company sold bonds, issued equity, and sold moving-strike stock warrants that only activate when share prices rise. Through these mechanisms, Metaplanet raised 86.1 billion yen, making it the largest public equity issuer in Japan so far this year. This capital strategy is designed to leverage operating cash flow and market-raised funds into bitcoin, thereby boosting its BTC Yield, a metric tracking bitcoin per fully diluted share. This figure jumped 170% year-to-date.

Metaplanet's success in leveraging its bitcoin stash to generate record profits highlights the company's strategic approach to capital management and its commitment to bitcoin as a core asset. The firm's aggressive accumulation of bitcoin and its innovative financing methods have positioned it as a leader in the bitcoin investment space, both globally and within Asia. This achievement underscores the potential of bitcoin-based income strategies in generating substantial profits for investment firms.