• Metaplanet has increased its total holdings to 18,888 BTC, which are valued at $1.94 billion, by acquiring 775 BTC for $93 million.
• The company reports strong Q2 results with a 41% revenue increase and a net profit of $75.1 million.
• Despite a recent 8.6% stock drop, Metaplanet remains optimistic about Bitcoin’s future and its continued accumulation strategy.

Japanese Bitcoin treasury company Metaplanet recently acquired 775 BTC, worth around $93 million, bringing its total BTC holding to 18,888. The new purchase increases the total value of the Bitcoins held by the company to $1.94 billion. The company has been bullish on Bitcoin and believes in the prospects of the currency in the long run.

Simon Gerovich, the president of Metaplanet, announced the news on X, saying that the average price per Bitcoin acquired was $120,006. He was optimistic, saying, “18,888 BTC.” The company continues to move forward. This acquisition puts Metaplanet in seventh place in the global ranking of Bitcoin holders, based on the data from Bitcointreasuries.

Metaplanet Strengthens Bitcoin Reserves and Reports Robust Q2 Growth

Metaplanet initiated the systematic acquisition of Bitcoin back in April 2024. The company concurs with the idea that Bitcoin is an important asset in the future, as quantified by its efforts to purchase additional holdings. It currently has a significant percentage of cryptocurrency, making it even stronger in the market.

Metaplanet also announced good Q2 financial performance alongside growth in Bitcoin reserves. The revenue increased to 1.2 billion yen ($8.4 million), 41 percent compared with the previous quarter. 

Net income was positive at 11.1 billion yen ($75.1 million) against a loss of 5 billion yen ($34.2 million) in Q1. These figures indicate the increasing financial strength of the company and its stable operating performance.

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However, against the broad strength in financials, company shares declined 8.6% on Friday and ended at 866 yen, as indicated by Yahoo Finance. However, on Monday, the shares rebounded and experienced a 0.6% gain.

Gerovich responded to the market reaction by saying, “I hear disappointment in the recent pullback.” Of course, it is natural to think so. But what gives us confidence is the ground we are laying down.

Bitcoin-Driven Revenue Fuels Metaplanet’s Optimism

Gerovich also emphasized that the company has seen an increase in income generated from Bitcoin. The company has grown in the three successive quarters, which gives Metaplanet a steady source of income. This recurrent revenue sustains subsequent Bitcoin acquisitions and offers more leisure time for future investments.

According to CoinMarketCap, the price of Bitcoin was at $115,466, representing a decrease of 2.32% in the last 24 hours. Metaplanet is optimistic about the future of the cryptocurrency. Revenue for the entire year is anticipated to be 3.4 billion yen, with an operating profit of 2.5 billion yen.

Metaplanet’s Bitcoin strategy and financial development remain instrumental in its successful market stance. The continuous acquisition of Bitcoin proves that the corporation remains part of the evolving world of cryptocurrencies.

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