Latest Acquisition Pushes Reserves Higher
Tokyo-listed Metaplanet has announced the purchase of 5,419 Bitcoin, worth about 93.65 billion yen ($627 million). This acquisition, disclosed on September 22, lifts the company’s total reserves to 25,555 BTC, valued at roughly $2.67 billion.
The purchase was executed at an average price of $115,900 per Bitcoin. Raising Metaplanet’s overall average acquisition cost to $104,400 per BTC. The move underscores the company’s aggressive expansion of its Bitcoin treasury program, which only launched earlier this year.
From 13,000 BTC to Over 25,500 in Three Months
Metaplanet’s growth has been rapid. At the end of June, the company reported holding 13,350 BTC. Just three months later, that figure has nearly doubled through a combination of equity fundraising and bond redemptions earmarked for digital asset purchases.
To evaluate performance, Metaplanet uses an internal metric called “BTC Yield,” which tracks how much Bitcoin backs each share over time. Between July 1 and September 22, the firm’s BTC Yield increased by 10.3%, despite share dilution from new equity issuance.
Fundraising Fuels Bitcoin Accumulation
Much of Metaplanet’s expansion has been financed through international share offerings. A major sale completed in mid-September raised over $1 billion, with more than half of those funds already deployed into Bitcoin.
The company has repeatedly signaled that its long-term focus is not short-term trading gains but rather positioning itself as a Bitcoin proxy stock. This strategy mirrors the approach pioneered by U.S.-based MicroStrategy, which has built its identity around Bitcoin accumulation.
Asia’s Largest Corporate Bitcoin Holder
With reserves now surpassing 25,500 BTC, Metaplanet has become Asia’s largest corporate holder of Bitcoin. Globally, it has overtaken companies like Coinbase and Tesla in terms of treasury size.
The firm has laid out clear milestones for its Bitcoin roadmap:
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30,000 BTC by the end of 2025
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100,000 BTC by 2026
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210,000 BTC by 2027, roughly 1% of Bitcoin’s total supply
Such targets, if achieved, would position Metaplanet among the most influential corporate players in global Bitcoin markets.
Japan’s Role in the Asian Crypto Market
Japan has historically maintained a strict regulatory approach toward digital assets following the Mt. Gox collapse in 2014. However, in recent years, regulators have worked to balance consumer protection with innovation.
Metaplanet’s success suggests that Japan may now be shifting toward a more open stance, positioning itself as a potential regional hub for Bitcoin and blockchain adoption. This comes at a time when Hong Kong, Singapore, and South Korea are also competing to attract digital asset firms.
Market Recognition and Index Inclusion
In September, Metaplanet’s market capitalization growth and aggressive accumulation strategy led to its upgrade to mid-cap status by FTSE Russell. This inclusion into major indexes such as the FTSE All-World and FTSE Japan Index has triggered passive inflows from foreign institutional investors.
Such recognition may give Metaplanet additional credibility as both a technology-focused firm and a Bitcoin reserve proxy, increasing its influence in the Asian digital asset ecosystem.
Looking Forward
Metaplanet’s latest purchase marks not only a milestone in its treasury growth but also a statement about its long-term strategy. By targeting 210,000 BTC in the next two years, the company is effectively positioning itself as a cornerstone of Bitcoin’s corporate adoption story in Asia.
Whether this strategy proves sustainable will depend on global market cycles, regulatory responses, and Bitcoin’s ability to maintain its status as a store of value. But for now, Metaplanet has placed itself firmly in the spotlight of both the crypto and traditional financial worlds.
