Metaplanet Inc. has purchased an additional 319 bitcoin (BTC) worth around ¥3.78 billion (approximately $26.3 million) and is now one of the largest publicly traded corporate holders of the scarce digital asset.
The company now owns 4,525 BTC and is among the top ten public bitcoin-holding firms in the world and the largest in Asia. According to its latest disclosure, the average cost of its bitcoin purchases is around $90,194 per BTC.
This is part of Metaplanet’s aggressive strategy to build up its bitcoin reserves. The company, often compared to Strategy, has publicly stated that its goal is to buy 10,000 BTC by the end of 2025 and 21,000 BTC by 2026.
Metaplanet CEO Simon Gerovich believes bitcoin is a key strategic asset and will be more important in corporate finance.
To measure its performance, Metaplanet uses a unique metric called BTC Yield. This measures the growth of bitcoin holdings relative to the company’s fully diluted shares outstanding, so investors can see how much BTC backs each share.
According to the company’s filing, Metaplanet saw a BTC Yield of 95.6% in Q1 2025. This means shareholders now own 95% more bitcoin than they did on January 1.
The quarter-to-date increase of the BTC Yield is 6.5% as of mid-April. In Q4 2024, the company reported a staggering 309.8% BTC Yield.
BTC Yield is a concept popularized by MicroStrategy, now called Strategy, and is gaining traction among other bitcoin-focused companies like Semler Scientific which reported a 21% yield in early 2025.
Metaplanet has used a combination of bond issuances and stock acquisition rights to fund its bitcoin purchases, minimizing shareholder dilution while raising the necessary capital.
The company has executed around 42% of its “210 million plan” which is to issue up to 21 million shares. This fundraising has already brought in over ¥35 billion ($232 million).
The company has exercised 8.6 million and 4.2 million shares under its 14th and 17th stock rights series. Also, it has redeemed some bond series early, such as the 9th Series worth ¥2 billion which was due September 2025.
Metaplanet is managing its funding to keep a strong balance sheet while working towards its bitcoin targets.
The Japanese company is also exploring options to expand its visibility beyond Japan.
Gerovich has met with NYSE and Nasdaq officials, so a future international listing is possible. Metaplanet’s stock is listed as MTPLF on US OTC markets and on the Tokyo Stock Exchange.
The company’s latest bitcoin purchase comes at a time of increased geopolitical tension, particularly with U.S.-China trade policies. Over the past week, bitcoin’s price saw some volatility, dropping to as low as $75,300 on some exchanges before rebounding above $84,000.
U.S. President Donald Trump added to the uncertainty by proposing a 20% tariff on Chinese electronics, replacing the previous 10% plan. The announcement had a ripple effect across global markets, but traditional indices like the Nasdaq 100 and S&P 500 held up with small gains.
