Metaplanet Doubles Down: Snaps Up Bitcoin at All-Time High Prices

Defying conventional wisdom—and possibly sanity—Metaplanet just loaded up on BTC as prices hit record highs. Because nothing says 'strategic allocation' like buying the top.

Bold move or reckless gamble?

The Tokyo-based firm's latest crypto splurge comes as Bitcoin smashes through previous ATHs, leaving traditional asset managers scrambling to justify their 2% bond yields. While Wall Street hedgies fret about 'valuation metrics,' Metaplanet's playbook looks simple: stack sats, ignore noise.

One financier muttered anonymously: 'This is why we can't have nice portfolios.'

Metaplanet acquires BTC at record prices

Metaplanet’s approach is to buy at any price, similar to other treasury companies. The latest purchase was for an average price of $117,451. Before the purchase, Metaplanet had an average acquisition price of $98,582. 

The latest purchase raised the average price to $100,191 per BTC, still allowing significant leeway to Metaplanet as BTC charted records above $122,000. 

For now, the MTPLF shares hold NEAR their six-month high, though the price has been sliding for the past month.

MTPLF shares slid in the past month, as Japanese investors sold. The stock has consolidated near its higher range for the past six months, but stalled its vertical climb. | Source: Google Finance

Even with weekly purchases, MTPLF deflated to $10.56. Metaplanet’s CEO Simon Gerovich noted the stock may be on the radar for international investors, after a recent presentation to potential EU buyers. 

In Zurich this week meeting top asset managers and capital allocators in Europe. With Metaplanet now a ¥1 trillion ($7B) company, we are firmly on their radar. The inbound interest is real and growing. The next phase of our expansion is already underway. pic.twitter.com/Q6USxclZ26

— Simon Gerovich (@gerovich) July 13, 2025

The recent stock consolidation stalled the near-vertical growth of MTPLF. Japanese investors sold some of their positions, though the slack may be taken up by US-based buyers. MTPLF is still expected to rally based on the recent BTC momentum.

Treasury companies define market moves

Treasury companies broke a milestone, holding 3.5M BTC, with all of the companies in profit as of July. Corporate buyers are absorbing all the newly mined supply, while also seeking other BTC reserves. Metaplanet alone acquires the equivalent of 32% of the mining supply each day. 

Currently, corporate buyers hold around 3.67% of the overall coin supply, or up to 4% based on different reporting methods. State governments hold 2.52% of the BTC supply, with most dedicated to long-term holding. 

Shrimp wallets still contain around 4.9% of the BTC supply, but corporate purchases are defining the latest market moves. ETF remain the most active buyers, but they often turn to selling when market conditions shift. 

While retail buyers are still holding, they are reluctant market participants near the peak. Treasury companies, on the other hand, are willing buyers, using market leverage from traditional markets to boost BTC. 

Metaplanet is one of the few buyers to perform open market buying, while some of the treasuries tap existing whales for OTC deals. The activity of corporate buyers remains a major factor in creating perceived scarcity for BTC, as more coins are taken off the market. 

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