Metaplanet’s Bitcoin Bet Pays Off: $2B Treasury Milestone Hit With 463 BTC Buy

Another corporate whale dives deeper into Bitcoin—just as traditional finance starts sweating over its own balance sheets.

Tokyo-based Metaplanet just dropped another $23.8 million (at today's prices) into 463 BTC, pushing its total reserves past the $2 billion mark. The move cements its position as Asia's most aggressive public company Bitcoin adopter—while Wall Street still debates whether crypto is 'a real asset class.'

Why it matters: This isn't hobbyist accumulation. With its fourth major purchase this year, Metaplanet's treasury now holds more BTC than most hedge funds—and it's doing it all in broad daylight through regulated markets.

The cynical take: Meanwhile, legacy institutions keep buying distressed office buildings and inflationary bonds. But sure, crypto's the risky bet.

Custom Metrics Spotlight Growth

Metaplanet tracks progress with its “BTC Yield” metric, which hit nearly 25% for the quarter ending August 4. That’s down from 129% last quarter, but still solidly in positive territory.

It also reports “BTC Gain” and “BTC ¥ Gain” to show how much value its bitcoin stash has added for investors in both coins and yen.

Big Capital-Raise Filing

This past Friday, Metaplanet filed to raise up to ¥555 billion ($3.6 billion) through new perpetual preferred stock.

The proposal includes upping its authorized share count to 2.72 billion and creating two classes of preferred shares with different risk and conversion terms.

The goal is simple: give the company more ways to pull in cash for future BTC buys.

METAPLANET BUYS 463 MORE BITCOIN WORTH $53M — TOTAL HOLDINGS NOW 17,595 BTC (~$2B)

Japan-based Metaplanet adds another 463 BTC to its treasury, spending $53 million

Total Bitcoin holdings now at 17,595 BTC, valued at approximately $2 billion

Solidifies Metaplanet’s…

— First Squawk (@FirstSquawk) August 4, 2025

Since December 2024, Metaplanet has tapped equity offerings, bond redemptions and warrant exercises to fund its Bitcoin spree. A flurry of share issuances in July helped bankroll the recent 463-coin purchase.

Rather than chase dividends, Metaplanet focuses on per-share Bitcoin growth. As of early August, each 1,000 fully diluted shares represents 0.0201 BTC, up from 0.0161 at the end of June. That gradual lift shows how much more Bitcoin each share holds over time.

The approach mirrors Strategy’s bold bet on Bitcoin. If Metaplanet reaches its goal of 210,000 BTC by 2027, it’ll stand alongside corporate giants known for treating their balance sheets as long-term Bitcoin vehicles.

The payoff could be huge if prices keep climbing—but a sudden drop WOULD sting its figures just as badly.

At the time of writing, Bitcoin was trading at $114,687, down 3.6% in the last seven days.

Featured image from UEEx, chart from TradingView