Metaplanet Buys 463 BTC, Brings Bitcoin Treasury to Over $2B

Metaplanet has acquired an additional 463 Bitcoin on August 4, 2025, raising its total holdings to 17,595 BTC as part of an aggressive Bitcoin accumulation strategy that began in late 2024. The latest purchase cost about ¥7.995 billion (approximately $54.4 million), at an average price of ¥17.27 million ($117,420) per Bitcoin. Overall, the company’s average cost basis for all its Bitcoin stands at ¥14.85 million ($101,010) per coin, reflecting significant unrealized gains. With Bitcoin’s current market value, Metaplanet’s total Bitcoin treasury is worth approximately ¥261.28 billion, or around $1.78 billion, though the company values it closer to $2.02 billion based on market appreciation.

In late July 2025, just days before this purchase, Metaplanet filed to raise ¥555 billion (roughly $3.6 billion) through a stock offering aimed at funding its ambitious goal of acquiring 210,000 Bitcoin by 2027—a target that would position it alongside major corporate Bitcoin holders like MicroStrategy. The filing includes plans to issue two classes of perpetual preferred shares with up to 6% dividends, designed to give Metaplanet flexible financing options for future Bitcoin acquisitions. This capital raise would represent about 75% of its current market value, underscoring its strong commitment to expanding its Bitcoin treasury.

Since formally making Bitcoin a core business line in December 2024, Metaplanet has actively leveraged capital markets—utilizing equity raises, bond issuances, and derivative instruments—to finance its Bitcoin purchases. The company has also developed proprietary metrics such as BTC Yield, BTC Gain, and BTC ¥ Gain to measure the growth and value added to shareholders from its Bitcoin holdings. As of August 4, 2025, its Bitcoin per fully diluted share has increased significantly, highlighting a shareholder-aligned strategy focused on per-share accumulation rather than dividends.

Metaplanet, originally involved in real estate and financial services, has rapidly emerged as a prominent corporate Bitcoin holder in Asia. Its bold approach mirrors that of MicroStrategy, transforming its corporate treasury into a major Bitcoin reserve, while aiming for long-term growth through digital asset holdings.

This strategic pivot not only diversifies the company’s balance sheet but also enhances its profile in the institutional investment landscape, positioning Metaplanet as one of the largest Bitcoin holders globally and the leading one in Japan and Asia.