Metaplanet is set to debut on the U.S.-based securities market exchange, OTCQX, under the ticker MTPLF starting December 19.
The Japanese firm noted that the decision to expand into the US market is fueled by growing global interest in its Bitcoin Treasury Strategy. It added that rising demand from both institutional and retail investors outside Japan seeking easier access to its shares. By listing on OTCQX, the firm hopes to bridge this accessibility gap and attract broader international investment.
CEO Simon Gerovich described the move as a critical step in boosting global investor confidence.
“This marks a key step in expanding access for global investors to join our journey as Asia’s first Bitcoin Treasury Company,”
Gerovich stated in an X post.
We are pleased to share that, commencing December 19 (U.S. time), Metaplanet shares will trade on the U.S. OTCQX market under the ticker “MTPLF.” This marks a key step in expanding access for global investors to join our journey as Asia’s first Bitcoin Treasury Company… https://t.co/5it4T8xEya
— Simon Gerovich (@gerovich) December 19, 2024
The announcement fueled an immediate market response, with Metaplanet’s stock price surging over 7% on the Japanese exchange to ¥3,770. The company’s shares have already seen a remarkable year-to-date growth of over 2,200%, according to data from Google Finance.
Notably, Metaplanent revealed on December 18 that it anticipates reporting its first consolidated operating profit since 2017. The company is projecting ¥890 million in revenue for fiscal year 2024, a sharp increase from ¥261 million the previous year. It expects its operating profit to reach ¥270 million, a significant recovery from a ¥468 million loss in 2023. Metaplanet credits this turnaround to its Bitcoin-related operations, which have been the cornerstone of its growth strategy.
Meanwhile, the firm is doubling down on its success with the bitcoin strategy. It introduced a Bitcoin-based reward program to its shareholders earlier this month. The initiative offers Bitcoin rewards via a lottery for shareholders holding at least 100 shares by December 31, 2024.
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