Finance
What to know:
- Metaplanet, that audacious juggler of digital fortunes, reported a 17-fold leap in operating profit to 6.28 billion yen ($40.8 million), while revenue pirouetted to a 738% increase.
- Operating profit, ever the optimist, is predicted to ascend another 81% this year, as if gravity were merely a suggestion.
- A non-cash bitcoin valuation loss of 102.2 billion yen ($650 million) was recorded, a poignant reminder that even the most glittering of cryptocurrencies can stumble in the dark.
Ah, Metaplanet (3350), Japan’s grand maestro of the bitcoin treasury, has once again dazzled the financial ballet with its latest performance. Last year, premiums from writing options-those sly, winking sirens of the market-propelled operating profit to a 17-fold increase, reaching 6.29 billion yen ($40.8 million). Revenue, not to be outdone, soared 738% to 8.9 billion yen, a figure as inflated as a baroque opera singer’s ego.
Yet, as the price of bitcoin tumbled from its celestial heights of nearly $125,000 to a more terrestrial $90,000, Metaplanet found itself grappling with a non-cash valuation loss of 102.2 billion yen. Net income, once a proud prima donna, was dragged into the shadows, concluding the year with a loss of 95 billion yen ($605 million). A tragic denouement, indeed.
The Tokyo-based company, still clutching its hoard of 35,102 BTC (worth over $2.4 billion), anticipates that nearly all of its 2026 revenue will sprout from these digital seeds. Yet, it sits atop a mountain of unrealized losses, approximately $1.2 billion, as bitcoin’s price languishes at $68,550. A precarious perch, one might say, for a company so enamored with the volatile muse of cryptocurrency.
Projections for 2026 are, of course, rosy: revenue is expected to burgeon by nearly 80% to 16 billion yen, with operating profit reaching 11.4 billion yen. Shares, ever the fickle audience, rose a modest 0.31% to 326.0 yen on Monday. Will Metaplanet’s gambit pay off, or will it find itself lost in the labyrinth of its own ambition? Only time-that implacable critic-will tell.
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2026-02-16 15:25