Journalist
Hassan Shittu
Journalist
Hassan Shittu
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Japanese investment firm Metaplanet has crossed a major milestone, announcing on Monday the purchase of 1,112 Bitcoin worth approximately $117.2 million.
The acquisition brings the firm’s total holdings to exactly 10,000 BTC, a target it had previously set for 2024.
The news came alongside the board’s approval of a ¥33 billion ($210 million) bond issuance to EVO Fund, a Cayman Islands-based investment company. The zero-interest bonds, part of Metaplanet’s 18th series of ordinary bond offerings, will mature in December.
According to a regulatory filing, the proceeds from the bond sale are intended for Bitcoin purchases, although it remains unclear whether the latest 1,112 BTC acquisition occurred before or after the bond issuance was finalized.
Metaplanet Now Ahead of Coinbase in Public Holdings
On X, Metaplanet CEO Simon Gerovich confirmed the transaction, stating that the company had purchased the additional BTC at an average price of $105,435 per coin.
At the time of the announcement, Bitcoin was trading near $105,831, based on CoinGecko data.
The company’s total investment in Bitcoin has now reached approximately $947 million, with an average acquisition cost of $94,697 per BTC.
Metaplanet first began accumulating Bitcoin in April 2024 and has since emerged as one of the most aggressive institutional buyers in the market.
With this latest move, Metaplanet has overtaken Coinbase Global on the list of top public holders of Bitcoin. Coinbase holding 9,267 BTC, now trailing Metaplanet’s 10,000 BTC, according to data from Bitbo.
The company’s stock reacted sharply to the news. Shares of Metaplanet surged more than 17% to 1,769 yen on Monday morning in Tokyo, according to Yahoo Finance data.
Since the start of the year, its stock has risen over 408%, reflecting investor enthusiasm around its Bitcoin-heavy strategy.
A key indicator Metaplanet tracks is its bitcoin yield, the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding.
According to the firm’s internal figures, this metric has posted strong quarterly growth, with yields reaching 309.8% in Q4 2024 and 87.2% so far in Q2 2025.
Looking ahead, Metaplanet has laid out an ambitious roadmap. The company now targets 210,000 BTC under management by the end of 2027.
Having reached 10,000 BTC, it would need to acquire an additional 200,000 BTC over the next 18 months to stay on track.
Metaplanet Becomes Japan’s Most Shorted Stock as Bitcoin Strategy Deepens
The Tokyo-listed firm, once a budget hotel operator, has continued to mimic MicroStrategy’s playbook, buying 1,088 BTC on June 2 at an average price of ¥15.5 million (~$108,600) per coin.
Metaplanet’s aggressive pivot to a Bitcoin-focused strategy has made it Japan’s most shorted stock, despite a staggering 4,800% rise in share price over the past year.
Metaplanet’s Bitcoin accumulation is being fueled by rapid capital market activity. On May 29, the company issued ¥3.2 billion ($21 million) in zero-coupon bonds, its 17th round, shortly after a ¥7.5 billion ($50 million) issuance. The proceeds are going directly into Bitcoin buys.
Globally, 116 public companies now hold Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. Recent additions include GameStop and Sweden’s H100. Giants like Tesla and Marathon Digital still lead, with over $1 billion in BTC each.
Even after Bitcoin dipped from $110K to $103K last week amid geopolitical tensions, institutional appetite hasn’t slowed. ETFs recorded five straight days of inflows, totaling over $1.3 billion, according to Farside Investors.
Bitwise CEO Hunter Horsley recently argued that Bitcoin could eventually rival the $30 trillion U.S. Treasuries market.
Meanwhile, Michael Saylor reaffirmed that Strategy would continue buying BTC, highlighting how the “Bitcoin standard” playbook is still influencing corporate treasury strategies worldwide.
