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Home BlockchainMetaplanet Posts $605 Million Loss After Spending Billions on Bitcoin
Blockchain

Metaplanet Posts $605 Million Loss After Spending Billions on Bitcoin

by Decrypt
written by Decrypt 0 comments
Metaplanet Posts $605 Million Loss After Spending Billions on Bitcoin

In brief

  • Metaplanet disclosed a full-year loss of $605 million.
  • The company has paid $107,000 per Bitcoin on average for its $2.4 billion stash.
  • It forecast an uptick in revenue from writing options.

Metaplanet became the latest Bitcoin-buying firm to acknowledge that its business came under pressure as the digital asset’s price plunged from record levels in October.

On Monday, the Japanese firm disclosed a full-year loss of ¥95 billion, or $605 million, on ¥8.9 billion, or $58 million in revenue,…

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