Metaplanet Doubles Down: Japanese Firm Drops $93M on 775 Bitcoin—Bullish Bet or Desperation Play?
Tokyo’s Metaplanet just went all-in on Bitcoin—snagging 775 coins for a cool $93 million. Because nothing says 'trust the system' like hedging with decentralized magic internet money.
Why? Maybe they’ve seen the yen’s future. Or maybe they’re tired of watching traditional finance burn while crypto eats its lunch. Either way, it’s a bold move—one that’ll either mint them as visionaries or leave them explaining to shareholders why they bet the treasury on digital gold.
Pro tip: When your CFO starts quoting Satoshi, it’s either genius or the beginning of a very expensive midlife crisis.
Metaplant introduced BTC-backed yield curve plan
In its Q2 earnings presentation, Metaplanet also unveiled “Metaplanet Prefs” and an aim to build a BTC-backed yield curve in Japan. “As Japan’s largest public holder of Bitcoin, we aim to set a new standard in the Japanese fixed income market by introducing BTC-backed credit through Perpetual Preferred Equity,” the company said.
It noted that issuing different preferred equity instruments can approximate a yield curve using each instrument’s Macaulay duration. Metaplanet recently filed a ¥555 billion shelf registration for two series of perpetual preferred shares, each yielding 6%. The MOVE mirrors what Strategy (MSTR) has done over the course of this year.
Metaplanet’s shares fell 8.6% to close at 866 yen on Friday in Japan, according to Yahoo Finance. The stock was up 0.6% around midday Monday with the market still open.
“I hear the disappointment in the recent pullback,” Gerovich said on Sunday. “It’s natural to feel that way. But what gives us conviction is the foundation we are building.”
He added that the firm’s bitcoin income-generation business has grown for three straight quarters. “This recurring income adds resilience and supports further accumulation,” he said. “This also gives us flexibility to service potential future financing to enhance our treasury operations.”
Bitcoin slips to $115k after July surge
Bitcoin was down 2.1% in the past 24 hours, trading at $115,305 as of 12:10 a.m. ET Monday.
Cryptopolitan’s analysts linked the rise in July to post-halving trends and say this cycle could peak around September 2025. They see attempts to hold an average NEAR $105,000, with pushes toward at least $118,000 if selling eases, or a bearish rejection and consolidation around $101,000.
Spot bitcoin ETFs, a higher term premium, and possible U.S. rate cuts are seen as drivers, with 2025 ranges suggested as a high near $160,000 and a low around $68,000.
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