Key Points
- Metaplanet Inc. (MTPLF) begins trading on the OTCQX Best Market, expanding its reach to US investors while maintaining its primary listing on the Tokyo Stock Exchange.
- The company recently adopted a Bitcoin-focused treasury strategy, with Bitcoin surpassing $100,000, and secured shareholder approval to increase authorized shares to 145 million.
Strategic US Market Entry
Metaplanet Inc. has marked a significant milestone by commencing trading on the OTCQX market, the highest tier of OTC Markets Group’s platform. This strategic move, effective December 19, 2024, responds to growing demand from international investors and expands the company’s global reach. Trading under the symbol “MTPLF,” Metaplanet joins the prestigious OTCQX Best Market while maintaining its primary listing on the Tokyo Stock Exchange Standard Market.
Recent Pivot to Bitcoin Strategy
In a notable strategic shift, Metaplanet announced its adoption of Bitcoin as part of its treasury management strategy in April 2024, followed by a May 2024 commitment to a “Bitcoin First, Bitcoin Only” approach. This decision comes amid Bitcoin reaching a new all-time high above $100,000 on December 4, 2024, and continued yen weakness against the US dollar at around 150. The company plans to leverage long-term debt and periodic equity issuances to accumulate Bitcoin as an alternative to holding depreciating yen.
Shareholder Support and Future Outlook
At their December 13, 2024, Extraordinary General Meeting, Metaplanet’s shareholders overwhelmingly approved an increase in authorized shares to 145,000,000, supporting the company’s strategic initiatives. While the OTCQX listing expands global investor access, Metaplanet states this development is not expected to impact its consolidated financial results for the fiscal year ending December 31, 2024, highlighting its focus on long-term value creation.
Global Market Access Through OTCQX
The OTCQX listing provides Metaplanet with access to the world’s largest equity market while maintaining high standards of corporate governance and transparency. The company’s presence on OTCQX enables easier access for US investors while meeting stringent financial standards and disclosure requirements, positioning Metaplanet for increased international visibility and trading volume.
