Metaplanet, a Tokyo-listed investment firm, has announced the acquisition of an additional 145 Bitcoin (BTC), bringing its total holdings to 5,000 BTC. The purchase, valued at approximately ¥1.9 billion (US$13.6 million), was made at an average price of $93,327 per coin, solidifying the company’s position as one of the largest Bitcoin treasuries in Asia.
The milestone reflects Metaplanet’s aggressive pursuit of its stated goal to accumulate 10,000 BTC by the end of 2025. With this acquisition, the firm’s Bitcoin investment now totals around $428.1 million, with an average cost basis of $85,621 per BTC. The firm has steadily increased its BTC position since announcing its pivot to a Bitcoin-centric treasury strategy in late 2023, citing growing macroeconomic uncertainty and rising global institutional adoption of digital assets.
Institutional Strategy Inspired by U.S. Giants
Metaplanet’s Bitcoin-focused strategy draws comparisons to U.S.-based MicroStrategy, a prominent institutional BTC holder known for its extensive and highly publicized Bitcoin purchases. Like MicroStrategy, Metaplanet views Bitcoin not only as a long-term store of value but also as a strategic asset that can help the company navigate an evolving global financial system increasingly shaped by decentralized finance.
The Japanese firm is positioning itself as a key player in the global Bitcoin accumulation race, with ambitions to further increase its holdings to 21,000 BTC by the end of 2026. This would represent more than four times its current holdings and mark a dramatic shift in how Asian firms approach corporate treasuries. CEO Simon Gerovich emphasized this vision in a statement: “Our goal is clear—we aim to lead the global Bitcoin race from Japan. We believe Bitcoin is the future of treasury reserves, and we are committed to acting on that conviction.”
Unique Metrics and Capital Strategy Fuel Growth
To measure its Bitcoin strategy performance, Metaplanet introduced a proprietary metric known as “BTC Yield”—tracking the growth of its BTC reserves relative to fully diluted shares. As of April 24, the firm reported a year-to-date BTC Yield of 121.1%, reflecting robust returns from its BTC acquisition campaign. The metric is designed to provide investors and analysts with a clearer picture of how the company is translating its digital asset strategy into shareholder value.
To finance its purchases, the firm has tapped a wide array of capital market instruments. These include the issuance of stock acquisition rights, private placements, and the launch of zero-interest bonds. Notably, Metaplanet recently raised ¥2 billion via its 10th series of ordinary bonds, with the proceeds earmarked for further Bitcoin acquisitions in partnership with EVO FUND. This diversified financing approach has allowed Metaplanet to scale its BTC portfolio without relying solely on internal cash flows.
The broader implication of Metaplanet’s bold Bitcoin strategy could serve as a blueprint for other firms in Asia considering similar moves. As institutional interest in Bitcoin continues to rise globally, Metaplanet’s assertive strategy positions it as a leading digital asset holder in the Asia-Pacific region—attracting both market attention and investor interest. Whether other public companies in the region will follow suit remains to be seen, but Metaplanet’s latest milestone is already sending strong signals across traditional and crypto financial sectors alike.