- Metaplanet’s Bitcoin holdings reached 8,888 BTC after the purchase of 1,088 BTC worth ¥16.89B.
- The firm’s Bitcoin holdings have surged with share deals and planned bond issues.
- Metaplanet’s BTC Yield surged from 41.7% to 309.8% between Oct 2024 and June 2025.
With its latest purchase of 1,088 Bitcoins, worth ¥16.89 billion, Metaplanet boosted its holdings to 8,888 BTC, valued at ¥122.27 billion as of June 2, 2025. The acquisition was made at an average price of ¥15.52 million per BTC. The move reflects the firm’s ongoing treasury strategy to accumulate Bitcoin aggressively through structured financial activity.
Consistent Expansion of Bitcoin Treasury
According to the report, the company’s acquisition program, initiated in 2024, has rapidly gained momentum through 2025. Over the period, Metaplanet grew its Bitcoin holdings from under 2,000 BTC to nearly 9,000 BTC. This growth was fueled by equity-based capital raises and zero-coupon bond issuances. Each acquisition was publicly disclosed and tied to specific bond series and stock rights exercised.
Besides direct purchases, the company has used sophisticated instruments such as moving strike warrants, stock acquisition rights, and convertible notes. These allowed Metaplanet to secure large amounts of funding without affecting shareholders through interest-bearing debt. The average purchase price of Bitcoin across its total holdings now stands at ¥13.76 million.
Moreover, Metaplanet has funded Bitcoin buys using proceeds from multiple bond redemptions and third-party share allotments to EVO FUND. These include the recent JPY 3.6 billion raised through its 12th bond series and USD 25 million secured via the 13th. Consequently, funds have been reinvested into expanding its crypto reserves.
BTC Yield Surges With Strategic Share Allocation
By tracking its BTC yield, a major performance indicator that represents the increase in BTC per fully diluted share, Metaplanet witnessed a considerable spike between October 2024 and June 2025, wherein the company’s BTC Yield jumped from 41.7% to 309.8% and then stabilized at 66.3% in the current quarter.
Additionally, BTC Gain and BTC ¥ Gain were internally used to reflect a theoretical growth in holdings and yen value. In the last quarter, there were 2,684 BTC Gain, amounting to ¥40.53 billion. These metrics do not consider liabilities or market influences on Metaplanet’s stock price.
Related: Strategy Buys 13K BTC, Raising Total Holdings to 568K Coins
Is Metaplanet’s Bitcoin Strategy Sustainable at This Scale?
Between January and June 2025, the firm issued and exercised multiple series of stock rights, leading to over 210 million new shares. These were connected to the “210 Million Plan,” which had been disclosed earlier in January 2025. Proceeds were used not only to purchase Bitcoin but also to redeem previous bond series ahead of schedule.
Additionally, the firm ensured all zero-coupon bonds were redeemed on a non-interest basis. Each issuance and redemption was timed with the completion of stock right exercises. Further, Metaplanet has completed early redemptions on USD 50 million in bonds raised through its 16th and 17th series, designated for continued Bitcoin accumulation. The company’s detailed transparency through the Tokyo Stock Exchange has enabled investors and traders to track its evolving treasury operations in real time.
