Metaplanet Doubles Down: Acquires 780 Additional Bitcoin, Holdings Surge Past 17,000 BTC
Tokyo's crypto whale just got hungrier. Metaplanet—the investment firm that treats Bitcoin like a corporate balance sheet staple—just gobbled up another 780 BTC. That brings their total stash to over 17,000 coins, worth roughly $1.1 billion at current prices. Not bad for a company that probably still uses fax machines.
Why the buying spree? While traditional finance clings to yield curves and inflation hedges, Metaplanet's playing a different game. Their latest purchase screams conviction in Bitcoin's long-term store-of-value thesis—or maybe just FOMO after watching MicroStrategy's stock moon.
This isn't pocket change. At an average purchase price around $60k per coin, they've sunk nearly half a billion dollars into this single tranche. The move cements their position as Asia's most aggressive public company Bitcoin accumulator—no small feat in a region where regulators still side-eye crypto.
Will this trigger another wave of corporate BTC adoption? Unlikely. Most CFOs still break out in hives at the thought of volatile assets on their books. But for Metaplanet? They're betting the farm that hodling beats hedging. Again.
Metaplanet Trading Volume Doubles in Crypto-Fueled Frenzy
The new purchase comes as the firm’s share trading activity on the Tokyo Stock Exchange has surged. Trading volume in Metaplanet stock hit 1.86 trillion yen ($12.65b) in June, nearly doubling the 997.6b yen ($6.78b) recorded in May, according to TSE data.
The sharp rise reflects growing investor interest as the company leans further into its digital asset strategy.
In the past three months alone, Metaplanet’s Bitcoin holdings have grown by over 13,000 BTC.
This expansion has been financed through multiple rounds of share issuances and bond redemptions. On July 4 and again on July 14, the company redeemed a combined 12.75b yen ($86.7m) from its 19th series of bonds, using funds raised through the exercise of stock acquisition rights.
Those rights have translated into rapid share dilution. Between June 30 and July 28, the company issued tens of millions of new shares through its 20th to 22nd series of stock acquisition programs. Fully diluted shares outstanding now stand at nearly 866m.
Metaplanet’s Q2 BTC Yield Surges to 129.4%
To evaluate whether this aggressive capital strategy benefits shareholders, Metaplanet tracks several custom metrics like BTC Yield, BTC Gain and BTC ¥ Gain.
These indicators aim to measure how much Bitcoin the company has accumulated relative to its expanding share base and to estimate the hypothetical accretion had no new shares been issued.
From July 1 to July 28 alone, Metaplanet’s BTC Yield stood at 22.5%. In yen terms, that gain equates to more than 52.5b yen ($357m). Previous quarters have seen even stronger growth, with a 129.4% BTC Yield in Q2 2025 and an eye-popping 309.8% in Q4 2024.
The average purchase price across all 17,132 Bitcoin now sits at roughly 14.78m yen ($100,504) per coin. That number has steadily risen alongside Metaplanet’s appetite for the asset, up from 12.94m yen ($87,992) at the end of March.
Crypto Metrics Not a Substitute for Cash Flow, Metaplanet Says
The company acknowledges that these metrics are not substitutes for traditional financial indicators such as cash FLOW or net income. However, it argues they reflect the success of its strategy to grow Bitcoin per share. It believes this metric will become increasingly valuable to long-term investors.
Metaplanet has not declared any dividends so far. Instead, it has reminded shareholders that owning its stock does not mean direct ownership of the underlying Bitcoin. Additionally, the company has cautioned that its custom KPIs do not account for debt obligations or preferred stock. As a result, these metrics may overstate gains if taken outside the broader financial context.
Still, Metaplanet’s MOVE stands out in Japan, where few listed companies have embraced Bitcoin on this scale.
