The Japanese Bitcoin company Metaplanet has made a significant investment of 6.48 billion Japanese yen (approximately $112 million) to enhance its treasury, increasing its total holdings to 20,000 BTC. This latest acquisition positions the firm further up the corporate treasury rankings, but can it compete with the Michael Saylor-led Strategy?
Summary
- Metaplanet has successfully acquired 1009 BTC with its $112 million investment.
- With a total of 20,000 BTC, it now ranks as the sixth-largest corporate holder.
- Following the announcement, Metaplanet’s shares experienced a decline.
The company based in Tokyo announced on Monday that it had purchased 1009 BTC at an average price of around $111,094 per Bitcoin. Its total Bitcoin assets are valued at over $2.14 billion, based on the current BTC price of $107,360 as of this writing.
As of September 1, Metaplanet stands as the sixth-largest corporate Bitcoin holder globally, expected to surpass Bitcoin mining company Riot Platforms Inc., which held 19,239 BTC according to BitcoinTreasuries data.
This recent acquisition also brings Metaplanet closer to its goal of maintaining at least 30,000 BTC by the end of 2025.
Achieving this objective would require the firm to acquire an average of 2500 BTC over the next four months. Initially, the plan was to obtain 10,000 BTC in the same timeframe, but the company has already exceeded its initial target months in advance.
In the next two years, the company aims for the ambitious goal of holding 1% of the total Bitcoin supply, which would equate to 210,000 BTC by 2027.
Even if this target is reached, Metaplanet would still be behind Strategy, which boasts an impressive 632,457 BTC as of September 1.
CEO Simon Gerovich has stated that the firm’s strategy for accumulating Bitcoin is inspired by Strategy’s corporate playbook. However, Strategy’s earlier entry, larger scale, and aggressive accumulation practices give it a significant advantage that Metaplanet may find challenging to overcome.
Nonetheless, Metaplanet’s transition from a hotel operator to a Bitcoin treasury firm has proven successful.
In addition to the headline figures, Metaplanet promotes a unique metric known as BTC Yield, which measures the growth in Bitcoin holdings per fully diluted share over time. According to its latest filings, the company achieved a BTC Yield of 30.7% for the quarter-to-date ending September 1, building on a yield of 129.4% from the previous quarter.
To finance these acquisitions, Metaplanet has heavily relied on capital markets, raising billions of yen through various stock acquisition rights tranches.
Between July 10 and August 29, the firm issued over 80 million new shares, with a significant portion of the proceeds directed towards early bond redemptions and additional Bitcoin purchases.
Metaplanet to Engage Shareholders over New Funding
The timing of this latest acquisition aligns with an important shareholder meeting planned last month to review and seek approval for a significant international share offering proposal.
Last month, it was reported that the company is considering another fundraising initiative, potentially securing $837 million in fresh capital through 555 million new shares. The board has already endorsed this plan, and the meeting will serve as the final step for securing shareholder approval before launching the overseas offering.
Notably, Eric Trump, currently a member of Metaplanet’s Strategic Board of Advisors, is anticipated to be in attendance at this meeting.
However, as it stands, shareholder sentiment has not aligned with the company’s ambitious goals. On September 1, Metaplanet shares saw a decrease of 3.87% during morning trading in Japan as investors were likely contemplating potential dilution ahead of the shareholder meeting.
At the same time, Bitcoin (BTC) had dropped over 1% in the past 24 hours, trading at $107,664 as this was written.
Despite this, the stock remains one of the most volatile and discussed assets in Japan throughout 2025, having gained over 136% year-to-date, largely driven by its Bitcoin strategy and notable appearances on benchmark indexes like the FTSE Japan Index.
