Metaplanet, the Tokyo-listed investment firm, has made headlines once again by purchasing an additional 1,111 Bitcoin (BTC) for $118.2 million, bringing its total holdings to a staggering 11,111 BTC, valued at over $1.07 billion. The company’s average purchase price for this latest acquisition was approximately $106,408 per Bitcoin, reflecting its commitment to accumulating the leading cryptocurrency despite recent market volatility.
Bitcoin’s price has dropped over 4% in the last week, currently trading at just above $101,000. However, this dip hasn’t deterred Metaplanet from executing its bold strategy. With shares of the company trading down 3.5% today, investors are closely watching how this aggressive accumulation plan will impact long-term shareholder value.
A Monumental Milestone in Bitcoin Accumulation
This acquisition marks a significant milestone in Metaplanet’s aggressive Bitcoin accumulation strategy, which began in mid-2024 and has accelerated into early 2025. Since December 2024, the company’s Bitcoin stash has grown nearly 28-fold, showcasing its unwavering focus on becoming a major player in the digital asset space.
The company now holds 11,111 BTC on its balance sheet, with an average cost basis of $95,869 per coin. This positions Metaplanet as one of the largest corporate holders of Bitcoin, rivaling other institutional giants in the space.
Impressive Quarter-to-Date Performance
In addition to its growing Bitcoin reserves, Metaplanet reported a quarter-to-date BTC yield of 107.9%, up from 95.6% in Q1 2025 and 309.8% in Q4 2024. This metric, which tracks Bitcoin per fully diluted share over time (excluding dilution effects), serves as a key performance indicator for the company.
For the ongoing quarter, Metaplanet posted a BTC gain of 4,367 BTC, valued at approximately $451.2 million, based on reference prices from Bitflyer. These figures underscore the company’s ability to generate substantial returns through its Bitcoin-focused strategy.
Funding Aggressive Growth Through Capital Markets
To fuel its Bitcoin-buying spree, Metaplanet has tapped into a variety of capital market activities, including multiple zero-coupon bond issuances and equity-based instruments. Since January 2025, the company has issued and redeemed over a dozen series of ordinary bonds and stock acquisition rights, primarily subscribed by EVO FUND.
Under its “210 Million Plan,” Metaplanet has issued over 210 million shares, raising significant funds explicitly earmarked for Bitcoin accumulation. Between May and June 2025 alone, the company raised over $300 million through bonds and exercised stock rights, further bolstering its treasury operations.
The Vision: 210,000 BTC by 2027
Dubbed “Japan’s Strategy,” Metaplanet has set an ambitious target to acquire 210,000 Bitcoins by the end of 2027. This goal reflects the company’s belief in Bitcoin’s long-term potential as a store of value and its role in enhancing shareholder value.
Since formalizing Bitcoin Treasury Operations as a core business line in December 2024, Metaplanet has pivoted away from its previous focus on hotel management. The company now provides regular updates on its BTC position, including total holdings, cost basis, and share dilution metrics.
As of June 23, 2025, Metaplanet’s fully diluted share count stood at 759 million, with Bitcoin per 1,000 fully diluted shares reaching 0.0146 BTC. This transparency has helped build trust among investors, even as the company continues to issue new shares to fund its Bitcoin acquisitions.
No Signs of Slowing Down
Despite the rapid expansion of its Bitcoin holdings, Metaplanet shows no signs of slowing down. The company remains committed to using capital raised through financial instruments to increase its exposure to Bitcoin, aligning with its stated mission of maximizing shareholder value through BTC accumulation.
While some investors may be concerned about share dilution or the risks associated with such a concentrated Bitcoin strategy, Metaplanet’s consistent performance and disciplined approach have so far paid off. The company’s ability to navigate market dips and capitalize on opportunities underscores its strategic foresight.
Final Thoughts
Metaplanet’s latest acquisition of 1,111 Bitcoin for $118.2 million is a testament to its bold vision and execution capabilities. By aiming to hold 210,000 BTC by 2027, the company is positioning itself as a leader in the institutional adoption of Bitcoin.
As the crypto market continues to evolve, all eyes will be on Metaplanet to see if it can maintain its momentum and achieve its ambitious goals. For now, the company’s relentless pursuit of Bitcoin accumulation serves as a powerful reminder of the growing intersection between traditional finance and digital assets.
