Metaplanet reports Q3 net profit of 12.7 billion yen
Acryptoinvest.news: Japanese Bitcoin treasury firm Metaplanet posted a profit in the third quarter despite continued market volatility.
Metaplanet Inc., Asia's largest Bitcoin management company, just released its third-quarter financial report. According to the official announcement, the company's net profit was 12.7 billion yen, or approximately $82 million. In addition to net profit, the Japanese company also reported an increase in sales revenue, which reached 2.401 billion yen, or approximately $15.5 million.
The figure was 94% higher than the previous quarter's figure, while the company's operating profit also rose 64% to 1.339 billion yen, or approximately US$8.7 million.
Furthermore, Metaplanet demonstrated a sharp increase in net assets. The company's net assets grew from ¥201 billion to ¥532.9 billion, an increase of 165% compared to the previous quarter. This growth demonstrates the strengthening of its market position and further improvement in operational efficiency as the company continues to develop its Bitcoin platform.
The Tokyo-based company's profitable quarterly report came despite continued market volatility, with the Bitcoin price recently falling to $102,000. Nevertheless, the treasury firm holds more than 30,823 BTC, making it one of the largest non-U.S. publicly traded Bitcoin holders.
Metaplanet responds to reports of JPX crackdown on Bitcoin treasury firms
In its third-quarter financial report, Metaplanet also responded to recent reports that Japan Exchange Group (JPX) is considering tightening regulations for companies holding cryptocurrency assets such as Bitcoin. The potential regulations are aimed at preventing backdoor listings and strengthening corporate governance for companies using Bitcoin as a treasury reserve asset.
Metaplanet acknowledged the global growth of “bitcoin treasury companies,” stating that it views the regulatory debate as a natural and positive development aimed at strengthening market integrity and protecting investors. The company added that it is ready to collaborate with the necessary authorities to develop appropriate regulations.
In concluding his statement, Bitcoin's treasurer reiterated that transparency plays a key role in the company's strategic approach. He promised to build investor confidence and strengthen its long-term corporate governance system.
Source: cryptonews.net
