Metaplanet Inc. (MTPLF) Stock Tumbles 6%—But Its 12,345 Bitcoin Bet Could Be a Masterstroke

Metaplanet just made Wall Street do a double-take. While its stock dipped nearly 6% today, the Tokyo-based firm quietly executed a jaw-dropping acquisition: 12,345 Bitcoin. That’s not a typo—it’s a nine-figure bet on crypto’s future while traditional markets wobble.

The Contrarian Play

While hedge funds panic-sell at the first sign of volatility, Metaplanet’s boardroom just turned into a Bitcoin bullpen. The move echoes MicroStrategy’s infamous crypto shopping sprees—except with a distinctly Japanese flair for precision (12,345 BTC? Someone loves numerical patterns).

Why This Hurts Short-Term

Traders clearly hated the news—hence the stock plunge. But here’s the kicker: if Bitcoin rallies like it did post-2020 halving, Metaplanet’s balance sheet could moon while competitors hold bags of inflationary fiat. Talk about playing chess while others play checkers.

The Cynic’s Corner

Let’s be real—this could also backfire spectacularly if crypto winter returns. Nothing says 'corporate governance' like betting the treasury on an asset that once lost 80% in a year. But hey, in a world where 'stonks only go up,' maybe they’re just early.

TLDR

• Metaplanet now holds 12,345 BTC under its bold new “555 Million Plan” to acquire 1% of Bitcoin’s supply.
• Despite a stock drop, Metaplanet ramps up Bitcoin buys using ¥90B+ in bond and equity funding.
• BTC Yield hits 112.2%, showcasing shareholder gains as Metaplanet pivots fully to Bitcoin-backed strategy.
• The company redeemed 3 bond series early using stock proceeds—tight execution, full focus on BTC.
• Metaplanet expands to 654.7M shares, aligning equity growth with aggressive Bitcoin accumulation.

Metaplanet Inc. (MTPLF) shares dropped 5.95% to $10.28 by mid-morning despite unveiling significant Bitcoin acquisition progress. The stock opened lower and stayed under $10.50, reflecting a muted market response. Still, the company confirmed a total of 12,345 BTC now under its Bitcoin treasury program.

Metaplanet Inc. (MTPLF)

Metaplanet Grows Holdings Under New “555 Million Plan”

Metaplanet Inc. announced it had purchased an additional 1,234 Bitcoin, worth ¥19.27 billion, at an average price of ¥15.6 million. This MOVE pushes its total holdings to 12,345 BTC as part of its newly launched “555 Million Plan.” The plan targets the accumulation of 210,000 BTC by 2027, or 1% of Bitcoin’s supply.

Metaplanet has acquired 1,234 BTC for ~$132.7 million at ~$107,557 per bitcoin and has achieved BTC Yield of 315% YTD 2025. As of 6/26/2025, we hold 12,345 $BTC acquired for ~$1.20 billion at ~$97,036 per bitcoin. $MTPLF pic.twitter.com/vsnbCLGjZB

— Simon Gerovich (@gerovich) June 26, 2025

This new strategy replaces the previous “21 Million Plan,” which had set a lower goal of 21,000 BTC by 2026. Metaplanet Inc. has continued scaling up using both equity and bond-based instruments to fund these buys. The company is leveraging capital markets to expand its role as Japan’s premier Bitcoin treasury vehicle.

BTC Yield, the company’s Core performance metric, rose to 112.2% quarter-to-date, reflecting efficient Bitcoin accumulation. BTC Yield measures Bitcoin per fully diluted share to gauge shareholder value accretion. BTC Gain and BTC ¥ Gain also rose, illustrating yen-denominated performance based on Bitcoin treasury operations.

Strategic Capital Raising Underpins Bitcoin Treasury Growth

Metaplanet Inc. has used a mix of zero-coupon, non-interest-bearing bonds and equity issuance to fuel Bitcoin purchases. Since January 2025, it has raised over ¥90 billion and USD 121 million through capital market activity. These funds have been systematically redirected toward strategic Bitcoin acquisitions.

In recent months, Metaplanet Inc. issued multiple bond series to EVO FUND with flexible redemption clauses. The 16th, 17th, and 18th Series were all fully redeemed early on June 25 using equity-linked proceeds. The capital strategy ensures minimal cost of funds while maintaining aggressive Bitcoin exposure.

The company expanded its common shares to over 654.7 million as of June 26, reflecting increased stock issuance. This equity expansion is tied directly to its Bitcoin accumulation strategy, aligning share growth with digital asset growth. Shareholders now track performance through Bitcoin per share rather than fiat-based metrics.

Exercise of Rights Drives Equity Expansion and Bond Redemptions

From February through March 2025, Metaplanet Inc. executed large-scale exercises of stock acquisition rights. The 13th to 17th Series rights resulted in millions of new shares issued and corresponding bond redemptions. Each bond issuance tied directly to Bitcoin treasury goals, without incurring interest costs.

The 6th through 10th Series bonds were issued and redeemed progressively using funds from exercised rights. On March 3, the company completed full exercise of the 13th Series and began exercising the 14th. Metaplanet then continued with redemptions of the 7th and 8th Series bonds using these funds.

By March 31, the company had approved another zero-coupon bond to extend its funding base through September. The pattern of bond issuance, stock rights exercise, and early redemptions illustrates operational efficiency. All proceeds have been redirected to Bitcoin accumulation under the “555 Million Plan.”

Metaplanet Inc. (MTPLF) has now built a model blending capital markets and cryptocurrency strategy, with 12,345 BTC already secured.