- Metaplanet now owns 10,000 BTC after buying 1,112 coins for about $117.2 million.
- The firm used $210 million from bond sales to fund this large Bitcoin purchase.
- BTC yield for Q2 2025 reached 87.2%, showing strong growth without heavy dilution.
Metaplanet Inc. has acquired 1,112 new bitcoins for approximately $117.2 million at an average price of $105,435 per bitcoin. The purchase, announced on June 16, 2025, brings the company’s total holdings to 10,000 BTC, valued at around $947 million. This move follows the issuance of $210 million in zero-coupon bonds through a third-party allotment with EVO FUND, part of its ongoing Bitcoin Treasury Operations.
Strategic Funding and Accelerated Accumulation
To reach its 10,000 BTC target, Metaplanet employed an aggressive capital market strategy. The latest bond issue, the 18th in the series, closed on June 16, 2025, raising $210 million specifically earmarked for Bitcoin accumulation.
This comes after a succession of earlier tranches. Bonds were often repaid early using funds raised from exercised stock acquisition rights. These rights, with 0% discounts and adjustable strike prices, enabled Metaplanet to raise funds while limiting shareholder dilution.
Between January and May 2025, the company executed over 17 bond issuances and multiple stock rights exercises. The structure ensured a consistent funding stream while accelerating its crypto holdings through continuous reinvestment.
Moreover, by the end of May, Metaplanet completed the full exercise of its “210 Million Plan,” originally launched on January 28, 2025. This campaign involved issuing 210 million rights to EVO FUND, leading to a massive capital inflow redirected into Bitcoin.
BTC Yield Metrics and Shareholder Value
According to its June 16 filing, Metaplanet recorded a quarter-to-date BTC yield of 87.2%. This follows earlier yields of 309.8% in Q4 2024 and 95.6% in Q1 2025. BTC yield reflects the ratio of Bitcoin held per fully diluted share, indicating the company’s ability to accumulate Bitcoin without proportionally increasing dilution.
The company defines BTC Gain as the hypothetical growth in Bitcoin holdings assuming no new shares were issued. This removes dilution effects and clarifies the net treasury growth. Additionally, BTC ¥ Gain converts the BTC gain to Japanese yen based on current market rates. Such metrics allow investors to evaluate capital efficiency beyond traditional financial statements.
Related: Strategy Unveils $250M STRD Preferred Stock to Buy Bitcoin
Expansion and Market Impact
With 10,000 BTC secured, Metaplanet positions itself as a top-tier corporate Bitcoin holder in Asia. The firm had also deliberately created an accumulation of Bitcoin as a business line since December 2024. Will other Japanese corporations begin adopting similar treasury models, given the ascent in Bitcoin valuations and shareholder returns?
According to disclosures, Metaplanet’s BTC stash blossomed from a modest 398 BTC in September 2024 to 10,000 BTC by mid-June of 2025. This means not only an accomplishment in fundraising but a very rapid market execution by the company.
