Metaplanet Acquires 1,088 More Bitcoin, Total Holdings Rise to 8,888 BTC
Metaplanet, Japan's leading Bitcoin treasury firm, has purchased an additional 1,088 Bitcoin for approximately ¥16.89 billion (around $109 million) at an average price of ¥15,519,019 per BTC (roughly $100,000). This acquisition raises the company's total Bitcoin holdings to 8,888 BTC, with a cumulative purchase cost of ¥122.27 billion at an average price of ¥13,756,658 per BTC (about $88,700). The purchase underscores Metaplanet's aggressive accumulation strategy and its role as a proxy for Bitcoin exposure on the Tokyo Stock Exchange.
BTC Yield Metric Continues Strong Growth, Q2 Gains Hit 66.3%
Metaplanet continues to report gains under its proprietary BTC Yield metric, which measures Bitcoin accumulation per share. Quarter-to-date (QTD) as of June 2, 2025, BTC Yield stands at 66.3%, following previous QTD yields of 95.6%, 309.8%, and 41.7% over the last three quarters. Total BTC Gain for Q2 2025 is 2,684 BTC, translating to a ¥40.54 billion gain based on a reference Bitcoin price of ¥15.10 million. This metric demonstrates Metaplanet's ability to grow Bitcoin per share through financial engineering while maintaining shareholder value.
Capital Markets Strategy Tightly Tied to Bitcoin Accumulation
Metaplanet's capital markets activity has been tightly aligned with its Bitcoin accumulation strategy. Since January 28, 2025, the company executed a series of zero-coupon, non-interest-bearing bond issuances and 0% discount stock acquisition rights to EVO FUND, raising over ¥35 billion and USD 121 million. These funds were used for Bitcoin purchases and bond redemptions. This 'debt-for-Bitcoin' approach allows the company to expand its treasury without excessive dilution, a model that has attracted attention from corporate treasuries globally.
Financial Results Show Strength, Bitcoin Volatility Managed
In Q1 FY2025, Metaplanet reported its strongest financial results yet. Revenue increased 8% quarter-over-quarter to ¥877 million, while operating profit rose 11% to ¥593 million. Net income surged to ¥5.0 billion, complemented by unrealized gains of ¥13.5 billion from its Bitcoin holdings, further strengthening the company's balance sheet. Although Bitcoin prices dipped briefly at the end of March, causing a ¥7.4 billion valuation loss, Metaplanet swiftly recovered as BTC surged to new record levels. This strong connection with Bitcoin's performance has led many investors to use Metaplanet as an investment vehicle to get Bitcoin exposure on the Tokyo Stock Exchange.
Other Institutions Follow: Strategy Acquires 705 BTC
At the same time, Strategy acquired another 705 Bitcoin for about $75 million, further expanding its position as the largest corporate holder of Bitcoin. According to their SEC filing on June 2, they bought Bitcoin at an average price of $106,495 each between May 26 and June 1, bringing their total holdings to 580,955 BTC. The acquisition was funded by selling some of their preferred shares through an at-the-market (ATM) equity offering. These parallel moves by Metaplanet and Strategy highlight the accelerating trend of public companies integrating Bitcoin into their corporate treasury strategies.