Metaplanet Profits Soar Amid Strategic Bitcoin Options Strategy
Japan’s Metaplanet (3350), a leading institutional Bitcoin holder, projects an 81% rise in operating profit for 2026. This follows a stellar 2025 where operating profits grew 17-fold to $40.8 million, driven by a 738% surge in revenue.
The growth is largely attributed to high-yield Bitcoin options writing, which generated significant premiums.
However, the company’s massive treasury of 35,102 BTC faced a "paper" challenge. As Bitcoin’s price corrected from its $125,000 peak to under $90,000, Metaplanet recorded a non-cash valuation loss of $650 million.
While this resulted in a technical net loss for the year, the firm’s operational core remains incredibly strong. Metaplanet continues to demonstrate how institutional players can leverage volatility through options while maintaining a massive long-term Bitcoin position.
