Latest Acquisition: 2,205 Bitcoin at ¥15.64 Million Each
Metaplanet Inc. has disclosed the purchase of an additional 2,205 Bitcoin, elevating its total holdings to 15,555 BTC. The transaction was valued at ¥34.487 billion at an average price of ¥15.64 million per Bitcoin. The cumulative cost basis stands at ¥225.818 billion, with an average purchase price of ¥14.52 million per coin. This acquisition is part of the company's newly launched "555 Million Plan," a strategic initiative targeting the accumulation of 210,000 BTC by the end of 2027—equivalent to 1% of Bitcoin's total supply.
From 21 Million Plan to 555 Million Plan: A Strategic Leap
The previous plan, dubbed the "21 Million Plan," had aimed for 21,000 BTC by 2026. The new 555 Million Plan represents a tenfold increase in ambition, reflecting Metaplanet's bullish long-term outlook on Bitcoin and its ability to efficiently deploy capital through equity-linked instruments. The name "555 Million" likely derives from the total cost in yen or a symbolic figure; the company has not provided an explicit breakdown beyond the 210,000 BTC target.
BTC Yield KPI Shows Strong Performance
Metaplanet introduced a proprietary key performance indicator called BTC Yield, which measures Bitcoin per fully diluted share. Quarter-to-date, the BTC Yield increased by 15.1%, resulting in a BTC Gain of 2,017 and a corresponding BTC ¥ Gain of ¥31.78 billion. This metric demonstrates how effectively the company is using capital to increase its Bitcoin exposure and enhance shareholder value. The BTC Gain of 2,017 coins combined with the ¥31.78 billion gain highlights the operational leverage.
Capital Actions: Share Issuance and Bond Redemption
Metaplanet also provided details on recent capital actions. From July 1 to July 4, 2025, 8.1 million new shares were issued through the exercise of the 20th Series of Stock Acquisition Rights. Proceeds financed a partial early redemption of ¥6 billion from a ¥30 billion bond originally issued to EVO FUND on June 30, 2025. Additionally, from June 24, 2025, a total of 54 million shares were delivered through the exercise of 540,000 units of the 20th Series Stock Acquisition Rights, representing 29.19% of the total 1.85 million rights issued in that series. The overall exercise ratio was 8.99%, staying within Tokyo Stock Exchange compliance limits. The 20th Series was exercised at an initial price of ¥1,388 on June 24, with adjustments based on the company's pricing method.