Metaplanet Acquires 1,004 Bitcoin, Total Holdings Now at 7,800 BTC
Metaplanet, widely recognized as Japan's premier Bitcoin treasury company, has announced the acquisition of 1,004 Bitcoin for approximately $104.3 million at an average price of $103,873 per BTC. This latest purchase raises the firm's total Bitcoin holdings to 7,800 BTC, making it one of the largest corporate holders of Bitcoin in Asia.
Rapid Accumulation from April 2024 to May 2025
Metaplanet began accumulating Bitcoin in April 2024 with around 98 BTC at a cost of roughly ¥1 billion. By the end of 2024, the company had increased its holdings to nearly 1,762 BTC with a cost basis of about 20.9 billion yen. After officially launching its Bitcoin Treasury Operations on December 18, 2024, the company aggressively expanded its Bitcoin reserves. As of May 19, 2025, total holdings reached 7,800 BTC, with cumulative cost exceeding ¥105 billion. The funding was sourced from capital market activities and operating income.
So far in 2025, Metaplanet has added over 5,000 BTC, representing a 3.9x increase in holdings year-to-date. Since pivoting to a Bitcoin-focused strategy, the company's BTC net asset value has grown 103.1x and its market cap has surged 138.1x. In the last 30 days alone, Metaplanet added 3,275 BTC, achieving a year-to-date Bitcoin yield of 189.1%.
Record Financial Performance and Bitcoin Yield
In Q1 FY2025, Metaplanet posted its best quarter yet: revenue reached ¥877 million (up 8% quarter-over-quarter) and operating profit hit a record ¥593 million (up 11%). Total assets jumped 81% to ¥55.0 billion, and net assets surged 197% to ¥50.4 billion.
Although Bitcoin's price declined at the end of March, causing a ¥7.4 billion valuation loss, the company quickly recovered. As of May 12, it reported ¥13.5 billion in unrealized gains thanks to the market rebound. Net income for the quarter was ¥5.0 billion, while core operations remained robust. Since July 2024, Metaplanet has reported quarterly BTC yields of 41.7%, 309.8%, 95.6%, and 47.8%, driving strong Bitcoin-based performance even amid dilution from share issuances.
Management Outlook: Japan's First Dedicated Bitcoin Treasury Company
According to Metaplanet's Q1 earnings presentation, “Guided by this conviction, we pivoted in 2024 to become Japan’s first dedicated Bitcoin Treasury Company. In Q1 2025, we launched—and have already executed 87% of—a two-year, ¥116 billion ‘moving-strike’ warrant program: the largest and lowest-cost equity financing of its kind ever placed in Japan.” This special warrant program provides ample capital for continued Bitcoin accumulation, signaling the company's long-term commitment to its Bitcoin treasury strategy.