Metaplanet's Q1 Revenue Reaches Record $6M as Bitcoin Assets Skyrocket 3.9x

Metaplanet, a Japanese hospitality firm, posted a record $6M in revenue for the first quarter, largely due to its Bitcoin strategy which accounted for 88% of its earnings, making it the 11th largest public company globally by Bitcoin holdings and the top in Asia.

The company added 5,034 BTC to its balance sheet in Q1, totaling 6,796 BTC. The purchases were financed by a warrant program that enabled equity issuance without a fixed strike or discount. Despite a $50.7M unrealized loss on its BTC position at the Q1's end, a recent market rally reversed the losses, reporting $92.5M in unrealized BTC gains.

Metaplanet advocates for other corporations to embrace Bitcoin, citing its own success.