Metaplanet Buys 463 Bitcoins Bringing Bitcoin Treasuries to Over $2 Billion

Metaplanet Inc. announced the acquisition of 463 additional BTC, pushing its total holdings to 17,595 Bitcoin. At a weighted average price of ¥17.27 million (approximately $117,420) per coin, the latest purchase cost the firm ¥7.995 billion (~$54.4 million). Based on current market valuations, Metaplanet’s treasury is worth roughly ¥261.28 billion (~$1.78 billion), with the company’s internal valuation placing the total closer to $2.02 billion. This acquisition follows Metaplanet’s strategic decision in December 2024 to designate Bitcoin as a formal line of business, leading to a series of equity offerings, bond redemptions and warrant exercises that financed its BTC accumulation. As part of its ongoing growth plan, Metaplanet filed on August 4 to raise up to ¥555 billion ($3.6 billion) through the issuance of perpetual preferred stock. The proposed financing will support the company’s long-term objective of amassing 210,000 BTC by 2027, a level that would place it among the top corporate holders globally. The stock issuance plan includes amendments to increase the authorized share count to 2.72 billion and introduce two classes of perpetual preferred shares with distinct risk and conversion terms. These measures aim to provide flexibility in capital raising for future Bitcoin purchases. Metaplanet also introduced a proprietary metric called “BTC Yield,” which tracks the percentage growth of its Bitcoin holdings relative to fully diluted share count. For the quarter ending August 4, BTC Yield was 24.6%, down from 129.4% in the prior quarter, yet still indicating strong shareholder value creation. The firm emphasized a per-share accumulation focus over dividend distributions, aligning incentives with long-term Bitcoin performance rather than short-term cash returns. This approach mirrors that of other public entities like MicroStrategy, which has built its identity around corporate Bitcoin acquisition. Metaplanet’s aggressive strategy underscores the growing trend of publicly listed companies leveraging capital markets to secure digital assets as a core part of their balance sheet allocation. Analysts note that the combination of strategic equity raises and disciplined accumulation positions Metaplanet to capitalize on Bitcoin’s potential as an inflation hedge and store of value amid macro-economic uncertainties.(, )