Metaplanet said Wednesday that it has added another 160 Bitcoin to its corporate treasury, continuing its aggressive accumulation strategy and bringing its total holdings to 4,206 BTC.
The Tokyo-listed firm disclosed the latest purchase on Wednesday, noting the acquisition cost approximately 1.998b yen—roughly $13.2m—at an average price of 12.4m yen($82,680) per Bitcoin.
This latest buy comes on the heels of a flurry of Bitcoin-focused activity. On Monday, the company announced it had issued 2b yen (about $13.3m) in zero-interest ordinary bonds, with proceeds earmarked exclusively for purchasing additional Bitcoin.
Then, on Tuesday, Metaplanet revealed it had acquired 696 BTC using proceeds from previously sold cash-secured put options—another capital markets strategy fueling its Bitcoin accumulation.
Together, these moves reflect a broader effort from Metaplanet to use traditional financial instruments—such as bonds, equity-linked products, and derivatives—to build one of the largest corporate Bitcoin treasuries in Asia.
The company began acquiring Bitcoin in 2024 and has since scaled up its buying significantly. Bitcoin is now a core part of its treasury strategy, formally recognized as a separate business line in December 2024.
To date, Metaplanet has invested about 54.3b yen—or about $359m—into Bitcoin, at an average price of 12.9m yen ($85,300) per BTC. The company’s purchases have been supported by strategic partner EVO FUND, through both zero-coupon bond issuances and stock acquisition rights.
To help investors monitor its performance, Metaplanet introduced new tracking metrics—BTC Yield, BTC Gain, and BTC ¥ Gain—that measure Bitcoin accumulation relative to share dilution and capital deployment. Last quarter, it posted a BTC Yield of 95.6%, and it has already achieved 3.9% in the first days of Q2.
With 4,206 BTC now on its balance sheet—worth about $300m—Metaplanet has emerged as one of the more active corporate Bitcoin holders globally.
Its strategy echoes elements of MicroStrategy’s approach in the US, but with a Japan-specific model that blends traditional financing with a high-conviction bet on digital assets.
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