Metaplanet’s Bold BTC Play: 1,111 More Bitcoins Added, Total Holdings Hit 11,111 BTC

25/06/2025 admin

Key Takeaways:

Japan-based Metaplanet has acquired 1,111 additional BTC, bringing its total holdings to 11,111 Bitcoin.
The company now holds over ¥156.4 billion ($980M) in BTC, with a reported BTC Yield of 107.9% for Q2 2025.
Metaplanet aims to accumulate 1% of Bitcoin’s total supply by 2027, positioning itself as Japan’s Bitcoin proxy.

Metaplanet Inc., a Tokyo-listed firm rapidly becoming one of the most aggressive corporate Bitcoin accumulators, has announced another major addition to its treasury. The company disclosed the purchase of 1,111 BTC, continuing a pattern of large-scale acquisitions that has caught the attention of both investors and crypto analysts.

Massive Accumulation Pushes Holdings to 11,111 BTC

In its latest disclosure dated June 23, 2025, Metaplanet revealed that it had acquired 1,111 Bitcoin at an average price of ¥15,535,502 (approximately $97,000) per coin. The total value of the purchase stands at ¥17.26 billion, or around $108 million.

This latest buy brings Metaplanet’s total Bitcoin holdings to 11,111 BTC, acquired at an average cost of ¥14,077,243 per Bitcoin. The company has now spent over ¥156.4 billion ($980 million) on BTC purchases to date.

Metaplanet’s strategy closely mirrors that of MicroStrategy, but the pace and scale of its acquisition plan have positioned it as one of the most aggressive publicly traded BTC buyers in Asia. The firm has stated ambitions to hold 210,000 BTC by 2027, equivalent to 1% of Bitcoin’s total capped supply.

BTC Yield Surges as Shareholder Value Strategy Intensifies

A unique performance metric disclosed by Metaplanet, called BTC Yield, has emerged as a key indicator for investors tracking the company’s crypto strategy. The metric measures the ratio of total Bitcoin holdings to fully diluted shares outstanding.

BTC Yield More Than Doubled in Q2

As of June 23, 2025, Metaplanet reports a BTC Yield of 107.9% quarter-to-date, a dramatic jump from 95.6% in Q1. For comparison, Q4 2024 saw a Yield of 309.8%, and Q3 2024 stood at 41.7%. This metric isolates the impact of BTC accumulation relative to share dilution, providing a clearer view of shareholder value generation through Bitcoin rather than stock issuance.

The company’s other custom indicators include:

BTC Gain – Hypothetical Bitcoin growth assuming no share dilution.
BTC ¥ Gain – BTC Gain converted into yen based on market prices.
Bitcoin per 1,000 Fully Diluted Shares – A measure of BTC exposure per shareholder unit.

These KPIs are designed to align with U.S. capital markets standards, reflecting a deliberate effort by Metaplanet to present itself as a Bitcoin-native equity vehicle for both domestic and global investors.

Funding Structure and Market Implications

To support its aggressive Bitcoin buying spree, Metaplanet has leaned heavily on capital markets. Recent funding rounds include:

Convertible notes issuance
ATM (At-the-Market) equity facilities
Zero-discount stock warrants

On the same day as the BTC acquisition notice, the company also announced a new allotment of stock acquisition rights worth ¥558.7 million to institutional investor EVO FUND. Proceeds from these financings are consistently funneled into Bitcoin.

This capital-raising strategy has been driving the BTC accumulation process quickly but is also has sparked a sustainability debate. Some market observers caution of an “over-financialization” of Bitcoin, as more public companies copy this treasury model.

Market Premium and Share Valuation Risk

One of the more controversial aspects of Metaplanet’s performance lies in its stock valuation. Metaplanet is now trading for an implied BTC valuation of ¥93 million to ¥118 million per coin, or $596,000 to $759,000 per BTC — far more than the current spot market going rate.

This is the premium and it indicates a strong investor appetite but is also risky. It all of a sudden means that Metaplanet is not just some tech company — it’s a collateralized BTC proxy. For more-traditional investors, that might raise the stakes, not for business operations, but for the wider crypto market’s vagaries.

Still, market confidence remains high. Metaplanet’s shares have surged more than 1,600% in the past 12 months, significantly outperforming even MicroStrategy’s stock over the same period.

Metaplanet’s Strategic Vision: From “21M Plan” to 30K BTC by Year-End

Initially launched as the “21 Million Plan”—a reference to Bitcoin’s total capped supply—Metaplanet has now upgraded its roadmap.

The new targets are:

30,000 BTC by the end of 2025
100,000 BTC by the end of 2026
210,000 BTC by 2027

Metaplanet CEO Simon Gerovich has framed the vehicle as a Bitcoin-native asset with a fund structure optimized for Japanese investors, to whom it provides tax-efficient access to BTC in equities form. He has also insisted that Bitcoin is “not a bet,” but “a strategic transformation of capital.”

This frame is particularly salient in Japan, where retail investors face byzantine tax rules if they’re holding crypto directly. Metaplanet provides a stock-market-like workaround with less murky tax reporting, which helps its appeal.

Metaplanet’s continued BTC purchases have reinforced the narrative that Bitcoin is becoming a legitimate treasury asset for companies far beyond U.S. borders. While North America has led the charge with firms like MicroStrategy, Block, and Tesla, Asia is now entering the stage more aggressively.

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