Metaplanet just went full Bitcoin. And the numbers are wild.
Revenue jumped 738% YoY —
from $7M to $58M —
after pivoting almost entirely to BTC income operations.
Now ~95% of their revenue comes from Bitcoin-related activity, mainly BTC options premium income.
Hotels and media? No longer the core. Bitcoin is.
But here’s the twist.
Operating profit: ~$40M
Net loss: ~$619M
Why?
Accounting rules.
Because they hold massive BTC reserves, they must mark price swings on their balance sheet. A $664M valuation drop wiped out operating gains — on paper.
Meanwhile, their Bitcoin holdings exploded:
1,762 BTC → 35,102 BTC in one year.
Largest corporate BTC holder in Japan.
$3.2B raised to fuel the strategy.
CEO Simon Gerovich says they’re not changing direction — even during market volatility.
This is no longer a “crypto exposure” play.
It’s a corporate Bitcoin treasury machine.
And while BTC is consolidating around 68–70K, companies like this are doubling down.
Question is simple:
Is this visionary long-term positioning…
or high-conviction risk concentration?
What do you think? 🟠
#BTC #BTCFellBelow$69,000Again #Bitcoin $BTC
