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Metaplanet Inc. has purchased 319 more BTC for ¥3.8 billion, bringing its total Bitcoin holdings to 4,525 BTC.
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The company is funding its Bitcoin strategy through a combination of stock warrants and zero-coupon bond issuances.
Metaplanet Inc. has increased its Bitcoin holdings with a ¥3.779 billion valued at $25.23 million purchase, acquiring an additional 319 BTC at an average price of ¥11.85 million, at approximately $79,055 per BTC, according to a disclosure published on Monday, April 14, 2025.
The move brings the firm’s total Bitcoin reserves to 4,525 BTC, with an aggregate purchase cost of ¥58.15 billion yen, valued at $388.04 million USD, averaging ¥12.85 million valued at $85,765 per BTC.
The latest acquisition shows Metaplanet’s continued commitment to a Bitcoin-centric treasury model, positioning the asset as a strategic reserve following continuous economic uncertainty and currency volatility.
The company continued to measure performance using key metrics like BTC Yield—a proprietary figure representing the growth in Bitcoin holdings per fully diluted share. BTC Yield was 95.6% in Q1 2025, following a stunning 309.8% in Q4 2024. BTC Yield for Q2 stands at 6.5% as of April 14.
Equity and Bond Issuance Fuel Treasury Growth
To fund its Bitcoin acquisition, Metaplanet has been active in the capital markets. In January 2025, the Board approved a five-tranche stock warrant issue to EVO FUND, totaling 21 million shares. The warrants, which are issued at market price without discount, are structured with variable pricing to accommodate trading conditions.
In February, the firm issued zero-coupon bonds totaling ¥4 billion, fully redeemed by month-end using proceeds from exercised stock warrants. Following this, on March 3, Metaplanet completed the exercise of its 13th Series Stock Acquisition Rights and launched its 14th Series, resulting in the issuance of more than 2 million additional shares.
Later in February, Metaplanet issued another ¥2 billion in zero-coupon, equity-linked bonds—also for the purpose of acquiring more Bitcoin to expand its holdings. The structure is similar to its previous issuances, offering no interest payments while tying repayment to future equity transactions.
The strategy explains Metaplanet’s approach to boosting its Bitcoin position while attempting to manage risk. The company has become Japan’s most aggressive corporate Bitcoin adopter and is now one of the largest public holders of the cryptocurrency globally.
With its expanding Bitcoin reserves and structured capital strategy, Metaplanet continues to position itself at the bridge between traditional finance and digital assets—offering a notable case of corporate crypto adoption in Asia’s second-largest economy.