- Metaplanet is the 10th largest corporate holder of Bitcoin with 4,855 BTC.
- Bitcoin is trading up 1.25% at $88,559 in the past 24 hours.
- Metaplanet’s stock has risen 1,016.13% in the past year, but is down 3.22% year-to-date.
Japanese Bitcoin (BTC) investment firm Metaplanet has become one of the fastest-growing and hottest stocks of 2024 after pivoting to a Bitcoin-first strategy.
However, the firm has experienced some notable short-term volatility, especially as the crypto markets continue to correct.
With its ambitious move to capture tens of thousands of fresh shareholders, the firm’s CEO, Simon Gerovich, has taken to social media to ease the concerns of its backers.
Volatility Concerns
According to Metaplanet CEO Simon Gerovich, the firm’s shareholders have expressed concerns about the stock’s volatility. However, he emphasized that the company isn’t focused on short-term price swings, but on building long-term corporate value.
Gerovich noted that the firm’s BTC holdings have increased massively, reaching 4,855 tokens annually. This has seen the firm’s BTC Yield, which measures the growth of BTC holdings per Metaplanet share, reach 119.3% year-to-date (YTD). He explains (translated):
“This means that for those who have held Metaplanet shares since the beginning of the year, the Bitcoin holdings per share have approximately doubled.“
In addition, through the firm’s financial strategy, they’ve created 2,174 BTC worth of additional value, which Gerovich states “could not have been achieved through simple spot purchases.” Furthermore, the firm has increased its shareholders from less than 10,000 in 2023 to roughly 65,000.
“As one of Metaplanet’s major shareholders myself, I stand in the same position as many of our shareholders.” He adds, “While stock prices may not always reflect these achievements in the short term, I am confident that in the medium to long term, they will converge with our fundamentals.”
On Schedule
According to the latest disclosure from Metaplanet, the firm has acquired 330 BTC worth $28.2 million at $85,605 per token, bringing its total to 4,855 BTC worth $424.74 million .
In pursuit of its lofty 10,000 BTC goal, which it hopes to achieve by the end of the year, the firm has stacked 649 BTC in the past 7 days, totalling 1,655 BTC in the last 30 days.
Gerovich says the firm’s Q2 2025 BTC Yield has hit 119.3% YTD. This metric measures the percentage increase in its BTC holdings relative to its fully diluted shares and indicates how effective the firm is at growing its BTC portfolio per share.
Bonds, Ordinary Bonds
According to a previous disclosure from Metaplanet, the firm has announced the issuance of its 11th Series of Ordinary Bonds, which raised $10 million for the firm and will be allocated toward purchasing more BTC.
Now, the firm holds 4,525 BTC worth $377.45 million , which brings it almost halfway to its 2025 goal of 10,000 BTC. However, having acquired this stash for an average of $85,296, its portfolio is running at a 2.21% loss.
At today’s price of $83,356 per BTC, Metaplanet could acquire around 115 BTC with this $10 million raise, which would lower the average cost by a small but meaningful percentage.
Buy the Dip
Metaplanet announced that it had acquired an additional 319 BTC, for a total of 3.779 billion yen (approx. $26.5 million), purchased at an average price of 11.84 million yen, or roughly $83,078 per BTC.
According to the firm’s CEO, Simon Gerovich, the number of shareholders has grown astronomically, from 10,854 in December 2023 to 63,654 as of March 2025.
With BTC being one of the best-performing assets of 2024, Metaplanet’s evolution into a Bitcoin-first firm was well-timed, and its aggressive investment strategy has seen it become the ninth-largest corporate holder of the asset in the world.
However, the firm’s strategy is currently under pressure. According to Bitcoin Treasuries, the firm’s 4,206 BTC stash, presently worth $340.57 million , is running at a 5.28% loss.
Having purchased its BTC at an average cost of $85,483, BTC’s slump below $80,000 has put Metaplanet in hot water. The ongoing downtrend also put pressure on the firm’s stock, which is down 2.1% year-to-date (YTD).
However, it is trading up 872.22% for the past year, and appears to be recovering from the downtrend as it’s comfortably trading up 9.38% over the past 5 days.
Buying Opportunity
As per Metaplanet’s latest disclosure , the firm has bagged an additional 160 BTC across two separate transactions for just over 12.48 million yen (approx. $84,703) per token for a total price of
This follows on from yesterday’s 696 BTC purchase, meaning the firm netted 856 BTC in just two days. Seemingly, the firm is taking a more aggressive approach this year as it has practically doubled its holdings in recent weeks, acquiring 1,815 BTC worth around $150.7 million over the last 30 days.
The firm is now the ninth-largest corporate holder of Bitcoin, with 4,206 BTC worth $350.68 million.
First Quarter Performance
As per the firm’s latest disclosure , Meetaplanet has acquired a further 696 BTC at an average of 14.58 million yen (approx. $97,600) per Bitcoin for a total of 10.15 billion yen, or roughly $67.9 million.
It follows a solid Q1 2025 report that revealed it earned roughly 770.25 million yen (approx. $5.15 million) in operating revenues by selling its cash-secured put options.
Notably, the firm’s Bitcoin Income Generation business has achieved 25.7% of its 3 billion yen revenue goals for 2025.
Metaplanet’s March Madness
To fund its aggressive Bitcoin acquisitions, Metaplanet issued multiple rounds of financing in March, including two separate two billion yen (approximately $13.3 million) bond issuances.
Nearly all proceeds were allocated to Bitcoin purchases, reinforcing its strategy of accumulating BTC as a treasury asset.
March saw a steady stream of acquisitions, with the firm purchasing over 1,000 BTC across multiple transactions:
- March 3 : 156 Bitcoins for $13.5 million at an average price of $86,598 per BTC.
- March 5 : 497 Bitcoins for $43.9 million at an average price of $88,448 per BTC.
- March 12 : 162 Bitcoins for $13.5 million at an average price of $83,513 per BTC.
- March 18 : 150 Bitcoins for $12.5 million at an average price of $83,508 per BTC.
- March 24 : 150 Bitcoins at an average price of $83,801 per BTC.
According to its latest disclosure , Metaplanet’s cumulative BTC Yield for Q1 2025 has reached 68.3%, up from 41.7% in Q4 2024.
BTC Yield measures the percentage growth in Bitcoin holdings relative to outstanding shares, serving as a key indicator of the firm’s Bitcoin acquisition strategy.
Thanks to its aggressive Bitcoin accumulation, Metaplanet has climbed the ranks to become the 10th-largest corporate holder.
This month, it surpassed Semler Scientific, Galaxy Digital, HIVE Digital, and several other companies.
Eric Trump Joins Metaplanet’s Strategic Board
In an unexpected development, Eric Trump has been appointed as the first member of Metaplanet’s “newly formed” Strategic Board of Advisors.
According to the firm’s latest release , the Board will be comprised of “influential” people from around the world.
Regarding Eric Trump, the firm notes his experience in “real estate, finance, brand development, and strategic business growth”—and praises his advocacy for the digital asset space.
“His business acumen, love of the Bitcoin community and global hospitality perspective will be invaluable in accelerating Metaplanet’s vision of becoming one of the world’s leading Bitcoin Treasury Companies,” the firm wrote.
Metaplanet’s February Frenzy
Metaplanet kicked off its Bitcoin-first strategy in February 2025, acquiring over 470 BTC across multiple strategic purchases. These included:
- 269.43 BTC for approximately $26.3 million at an average price of $97,811
- 135 BTC for around $12.97 million at an average of $96,079
- 68.59 BTC at $96,335 per coin
In February, the firm also revealed an even more ambitious long-term vision: 21,000 BTC by the end of 2026, equivalent to 0.1% of Bitcoin’s total supply.
Beyond its aggressive accumulations, Metaplanet raised 4 billion yen ($26 million) through unsecured and unguaranteed bonds, emphasizing its ability to “purchase Bitcoin instantly” without waiting forbest-performing stock options to be exercised.
February also marked a turning point in investor enthusiasm. Metaplanet’s meteoric stock surge caught the attention of Michael Saylor , who praised the Japanese firm’s trajectory on social media.
The company has since become the top-weighted component in the BLOCK Index and announced a 10-for-1 stock split effective April 1, 2025, aiming to boost market liquidity.
A Billion in Bitcoin
According to Metaplanet’s latest announcement , the firm has issued 21 million shares of 0% “discount moving strike warrants” to raise an eye-watering 116 billion yen, or roughly $745 million.
As per Metaplanet, this will be the largest capital raise in Asian equity markets history to purchase more BTC. With the aim of stacking their satoshis 10,000 BTC high by the end of 2025, Metaplanet is eyeing a stash worth at least $1 billion—so long as BTC remains above $100,000.
Even more ambitiously, Gerovich has set his eyes on acquiring 21,000 BTC by Q4 2026 as part of a newly released “2025-2026 Bitcoin Plan.”
Metaplanet’s stock performed spectacularly throughout 2024, climbing 2347% from 170 yen to 4,160 yen since Jan. 29, 2024.
Stock Up
As per a post from Gerovich, Metaplanet’s stock hit an all-time high (ATH) of 4,935 yen ($31.55), representing a dramatic increase of 16.53% in the past 24 hours, or 2,802.94% since Jan. 22, 2024.
This comes just days after the firm’s stock crossed the $1 billion market capitalization for the first time.
On Jan. 19, the eve of Donald Trump’s inauguration, Gerovich attended the President-elect’s candlelight dinner ahead of his “Make America Great” victory celebration at the 20,000-plus-seat Capital One Arena in Washington.
Here, the Metaplanet CEO can be seen rubbing shoulders with industry titans, including MicroStrategy’s Michael Saylor. Elon Musk, Jeff Bezos, and other major tech figures were also at the exclusive dinner.
After just a year of betting big on Bitcoin, Gerovich and Metaplanet find themselves amongst the stars.
Capital Group Acquisition
As per an announcement from Gerovich, American investment behemoth Capital Group, which has over $2.3 trillion in assets under management (AUM), has acquired a 5% stake in Metaplanet, making it the firm’s third-largest shareholder.
As noted by Gerovich, Capital Group is also the second-largest shareholder of the world’s biggest Bitcoin investment firm, MicroStrategy. In 2021, the firm purchased a 12.2% stake in Michael Saylor’s BTC machine.
At this time, MicroStrategy had purchased around 105,000 BTC. The company commands 447,470 BTC worth $42.36 billion.
Metaplanet’s BTC venture saw the firm acquire 1,761.98 BTC throughout 2024. Now, Metaplanet is targeting a stash of 10,000 BTC.
Seemingly, Capital Group has spotted similar potential in Metaplanet’s ambitions and its impressive stock performance.
Ahead of Schedule
As per the latest disclosure from Metaplanet, the firm has successfully finalized its 12th series stock acquisition. The firm has issued 29,000 units through EVO FUND, which released 2.9 million new shares to raise 9.5 billion yen, or roughly $60 million.
The exercise was announced in late November 2024, officially began on Dec. 17, and would last six months. The firm initially issued 4.5 billion yen in ordinary bonds and a further 5 billion yen a few days later. These bonds would mature in June 2025.
However, as explained by Gerovich, these were sold ahead of time as EVO FUND “borrowed” 2.9 million shares from MMXX Ventures Limited to hedge its market position, writing:
“The initial six-month exercise period for the warrants was significantly shortened due to the positive market reaction following our financing announcements. EVO FUND fully hedged its position before the new year, enabling Metaplanet to raise ¥9.5 billion at ¥3,288 per share.“
According to Gerovich, the strategy “delivered significant shareholder value,” noting the firm’s 42.82% BTC Yield increase, an 8% dilution of existing stock, and minimal market impact despite the exercise’s accelerated execution.
Metaplanet 2025
After an exceptional year for the Bitcoin bulls, Metaplanet has revealed intentions to increase its Bitcoin holdings by more than fivefold.
According to a post from Gerovich, the firm is now eyeing a 10,000 BTC stash as its goal for 2025.
But that’s not all. As per Gerovich’s post, the firm intends to roll out new initiatives to enhance transparency and shareholder engagement, advance BTC adoption in Japan, and “explore innovative opportunities to grow Metaplanet’s impact in Japan and the Bitcoin ecosystem.”
At present, the firm holds a sturdy 1,762 BTC worth roughly $174.5 million. With a target of 10,000 BTC, which would be worth close to $1 billion at today’s prices, it will be fascinating to see how Metaplanet intends to raise such lofty sums of cash.
Back on Bitcoin
As per Metaplanet’s latest disclosure , Metaplanet has acquired an additional 619.7 BTC worth roughly $59 million at an average price of $97,885 per token.
In addition, the firm highlights that its newly implemented BTC Yield, a key performance indicator (KPI), is up from 41.7% between July and September 2024 to 309.82% between Oct. 1 and Dec. 23.
Looking to end 2024 on a high note and its first year of profits since 2017, Metaplanet’s aggressive BTC acquisition strategy has—so far—paid off massively.
Trading Up
As per Metaplanet, the firm has begun offering its shares in the U.S. OTC market, OTCQX, under the ticker MTPLF. As noted by Gerovich:
“This marks a key step in expanding access for global investors to join our journey as Asia’s first Bitcoin Treasury Company.best-performing”
Metaplanet notes that with BTC above $100,000 and an ever-weakening yen against the U.S. dollar, “the strategic importance of Bitcoin has never been greater.”
Furthermore, the “global interest” that the firm has garnered from its BTC strategy has heightened demand from institutional and retail investors seeking to trade Metaplanet shares.
The move to list on OTCQX is a bid to meet these demands. Metaplanet’s stock has responded positively, jumping 7.1% at the time.
Profits and New Initiatives
As per a fresh release from Metaplanet, the firm has announced that it anticipates 2024 to be its first profitable fiscal year since 2017.
Specifically, it is forecasted to draw 890 million yen (roughly $5.8 million) in revenue for the year ending Dec. 31, 2024.
This is a solid leap from its 2023 performance, which tallied 261 million yen ($1.7 million) in revenues.
It suffered a loss of 498 million yen ($3.2 million) in 2023 and projects an operating profit of 270 million yen ($1.75 million).
Most of the firm’s success comes from its BTC offerings, particularly BTC put options trading, which it anticipates will generate 520 million yen ($3.4 million) in revenues alone.
Metaplanet CEO Simon Gerovich noted that the forecast does not include unrealized gains from BTC, writing :
“Importantly, our operating profit forecast excludes unrealized gains from Bitcoin holdings, currently valued at approximately ¥7.4 billion. Achieving profitability ensures that new funds raised can be productively allocated toward buying Bitcoin, rather than covering operating expenses.“
Expanding its Bitcoin investment activities, Metaplanet has also announced a new business line, namely “Bitcoin Treasury Operations.” As per the disclosure , this will be a new key strategic focus as part of its “Bitcoin First, Bitcoin Only” mission.
The initiative seeks to leverage “long-term debt and periodic equity issuances to continually accumulate Bitcoin as an alternative to holding a weakening yen.” This also includes tapping convertible bonds and other financial instruments to stack even more satoshis.
Bonds For BTC
As per the firm’s latest disclosure , it aims to raise 4.5 billion yen—or approximately $29.25 million—through a bond issuance scheme in order to purchase more BTC.
Bonds will be issued in tranches to EVO FUND, each priced at 250 million yen. Metaplanet notes that it also intends to issue up to 5 billion yen—or $32.5 million—worth of additional ordinary bonds “in one or multiple tranches” to EVO FUND. This schedule has yet to be announced.
This could see Metaplanet raise over $61 million in total, allowing them to purchase an additional 569 BTC. This would be a sizeable increase in holdings, raising their current stash from 1,142 BTC to 1,711 BTC, amounting to over $183 million at today’s prices.
Metaplanet’s stock has sailed on the successes of BTC, and shareholders are increasingly impressed. This couldn’t be better reflected than in the firm’s share price reaching a record high of 4,270 yen on Dec. 17. This included a record volume of 27.8 billion yen (roughly $180 million), as well as crossing the $1 billion market capitalization milestone.
Bitcoin Rewards
As per the latest release from Metaplanet, it has announced that it will be distributing 30 million yen, roughly $200,000, worth of BTC to 2,350 shareholders via a “lottery system” through its partnership with SBI VC Trade.
Metaplanet says the move is to enhance shareholder value through “Bitcoin-related benefits,” suggesting future initiatives could be in the works. The allocations include 50 prizes worth roughly $665, 100 worth $200, and 2,200 prices worth $67.
The firm’s stock jumped a few percentage points following the news, kicking off Dec. positively. With BTC trading at $95,623, the firm’s stash is now worth over $109 million.
A BTC Boost
As per the firm’s Nov. 28 disclosure , Metaplanet will be issuing 29,000 SAR units to EVO FUND.
Each unit grants EVO FUND the right to purchase 100 common shares. The fund will be able to purchase this stock on Dec. 16, 2024.
At best, Metaplanet could raise a sizeable $62 million, which at today’s prices would bag the firm 650 BTC, bringing its stash closer to totaling 2000 BTC.
Furthermore, the firm has been added to the Amplify Transformational Data Sharing ETF (BLOK ) index fund.
This relatively large index fund, with $930 million in net assets, invests in 53 major blockchain/blockchain-adjacent companies, including MicroStrategy, Robinhood, and Metaplanet.
This is the second major ETF the fund has been added to since the start of November when it was added to the Coinshares Blockchain Global Equity Index (BLOCK).
Metaplanet on Top
As per the firm’s latest disclosure , Metaplanet has purchased 124.117 BTC at an average price of 14,099,600 yen (approximately $91,713) per token, totaling 1.75 billion yen—or $11.3 million.
It comes a day after the firm announced it would be selling off 1.75 billion yen worth of bonds, signaling a hasty and eager Bitcoin investment strategy. Investors appear to be impressed, as Metapanet has risen 15.1% today and witnessed record trading volumes. The firm’s stock is up an incredible 1,334% YTD.
Debt Sale
To buy even more Bitcoin, the Tokyo-listed firm has announced that it will be issuing 1.75 billion yen ($11.3 million ) worth of one-year ordinary bonds for an annual interest rate of 0.36%.
The firm has also launched a shareholder benefits program for shareholders owning at least 100 shares (as of Dec. 31, 2024). Posting to X, Metaplanet CEO Simorn Gerovich wrote :
“This program celebrates our commitment to shareholder engagement and introducing more people to the Bitcoin ecosystem. “
It is offering BTC-related experiences and perks. This includes partnering with the likes of SBI VC Trade for a $19.5 million BTC giveaway, discounts at a Tokyo hotel, and a new account bonus for a trading platform.
Metaplanet’s Bitcoin gambit has paid off massively, with the firm’s 1018 BTC acquired at an average price of $61,087 per token. With BTC now trading at around $92,000, that’s an approximate gain of 50%, not to mention the firm’s stock value, which has rallied an impressive 1,146.25% year-to-date (YTD).
BLOCK Index
As per the firm’s latest disclosure , Metaplanet’s stock is now included in the BLOCK Index, a globally recognized benchmark for tracking leading publicly listed firms in the blockchain and crypto sectors. Metaplanet writes:
“This milestone underscores Metaplanet’s commitment to enhancing shareholder value through disciplined Bitcoin accumulation and affirms its position as Japan’s premier Bitcoin Treasury Company.”
The BLOCK Index is comprised of industry titans such as MicroStrategy (MSTR), Coinbase (COIN), Riot (RIOT), and Marathon Digital (MARA).
BTC Yield
Often described as the “MicroStrategy of Asia,” Metaplanet has taken a leaf out of Michael Saylor’s playbook and announced that it will adopt the “BTC Yield” metric as a key performance indicator (KPI).
According to Metplanet’s Oct. 25 disclosure, the firm believes this will give investors a better understanding of its progress and the “impact” of its Bitcoin acquisition strategy. Originally pioneered by MicroStrategy after its introduction on Aug. 1, 2024, the firm explained that:
“BTC Yield is a key performance indicator (“KPI”) that represents the % change period-to-period of the ratio between the Company’s bitcoin holdings and its Assumed Diluted Shares Outstanding.”
In short, diluted shares outstanding are the company’s common stock plus additional shares that can be created from convertible notes, exercising stock options, and settling restricted and performance stocks.
“The Company uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to shareholders.”
Metaplanet highlights that its current BTC yield is 12.2% YTD and that it targets 4% to 8% annually. The firm reasserts that the new metric does not measure overall financial performance or liquidity.
A Big Raise
As per the Oct. 22 disclosure , the period had a 72.8% exercise rate, with 13,774 shareholders participating.
This high participation rate underscores strong confidence in Metaplanet’s prospects.
Shareholders were offered the right to buy Metaplanet shares at a set price, allowing the firm to raise funds and grant greater ownership of the business to investors.
One notable backer, ECO FUND, exercised rights to acquire a 14.9% stake in Metaplanet.
Notably, the amount raised is worth more than the firms’ BTC holdings, which, according to Bitcoin Treasuries, stands at 861.4 BTC (approx. $57.5 million).
Presumably, these funds will serve to fuel Metaplanet’s insatiable Bitcoin buying appetite.
Stacking Statoshis
As per its latest disclosure , Metaplanet has secured 106.967 BTC at an average price of around $62,700 apiece.
The total investment is worth some $6.7 million, bringing the firm’s total holdings to a sturdy 855.478 BTC, or $56.2 million, purchased at an average purchase price of $62,400.
Metaplanet has just 145 BTC left to acquire to reach its ambitious 1,000 BTC portfolio goal. However, its gains aren’t just in BTC. Since its pivot from property Bitcoin, Metaplane’s stock is up 590.63% year-to-date (YTD).
Metaplanet’s stock jumped another 15.71% yesterday, outperforming Bitcoin, which rose around 2% in the past 24 hours.
108 BTC
As per an Oct.3 disclosure from Metaplanet, it has purchased an additional 108.999 BTC at an average price of approximately $61,689 a token.
The investment is worth roughly $6.62 million, raising the firm’s total holdings to 748.5 BTC, valued at around $45.5 million.
Since Oct. 1, the firm has purchased 349.665 BTC, which averages around 31.78 BTC daily. This comes as the firm hones in on its target of acquiring more than 1,000 BTC.
Now, with just over 250 BTC to go, it will be interesting to see what comes after it achieves its goal.
Betting on Bitcoin
As per Metaplanet’s latest disclosure , the firm has once again increased its Bitcoin holdings, purchasing 108.786 BTC.
Purchased at around $62,000 a piece, Metaplanet’s latest investment totals nearly $7 million. The firms’ total holdings now stand at 639.503 BTC, or roughly $40.5 million.
Bitcoin Options
As per Metaplanet, the firm has entered into a deal with Singapore-based digital asset trading firm QCP Capital to sell Bitcoin put options and earn 23.97 BTC in premium income.
More specifically, they sold 233 BTC Bitcoin put options with a strike price of $62,000, which expire on Dec. 27. Explaining why they didn’t go with a direct purchase, Metaplanet CEO Simon Gerovich writes :
“Bitcoin is a volatile asset, and this volatility creates opportunities for us to generate more Bitcoin. Our income strategy allows us to capitalize on these market movements, earning premiums that help us increase our Bitcoin holdings without relying solely on direct purchases.“
Bitcoin put options let buyers sell a specific amount of BTC at a fixed strike price before or on a given expiration date if they want to.
Should BTC sink under the strike price before expiration, the buyer will typically sell. The seller, Metaplanet, must then buy BTC from the holder at the agreed strike price.
Metaplanet’s bid yielded an additional 23.97 BTC at $62,000 a piece, bringing Metaplanet’s total BTC holdings to approximately $32.5 million.
Metaplanet Stacks
According to the firm’s disclosure , Metaplanet acquired an additional 107.913 BTC on Oct. 1, 2024, for roughly $64,154 apiece.
This is the largest BTC purchase Metaplanet has made since embarking on its satoshi-stacking journey earlier this year, and it’s been quite the success, costing almost $7 million.
After pivoting towards BTC in April 2024, Metaplanet has become one of Japan’s rising stars. The firm’s stock is one of the year’s top performers, up 530% YTD. Metaplanet now commands 506.745 BTC worth some $32.5 million, and there are no signs that the firm plans to stop stacking sats.
The news comes as Japan’s financial watchdogs review their crypto regulations , with many hopeful that it could lead to lower taxes and domestic crypto exchange-traded funds (ETFs).
Bitcoin Boost
As per the firm’s most recent disclosure, Metaplanet purchased 38.46 BTC for ¥300 million, or roughly $2 million. The firm now commands approximately $22.7 million in its BTC portfolio.
The news follows on from its stock option offering to investors, through which it raised ¥229.7 million to invest back into BTC. The market downturn will not deter Metaplanet, which quickly gained a reputation as Asia’s “MicroStrategy” due to its ongoing BTC investment strategy.
SBI Partnership
As per an official announcement from Metaplanet, the firm is partnering with Ripple’s (XRP) banking partner, SBI Group. More specifically, Metaplanet highlights the partnership is to access a compliant custody service that “prioritizes tax efficiency and offers the potential to utilize Bitcoin as collateral for financing.”
In a separate announcement, SBI adds that it will be assisting Metaplanet with its Bitcoin buying strategy and provide trading, operation, and storage support, writing:
“Focused on Bitcoin’s rarity and non-political monetary policy, Metaplanet appointed Bitcoin as a major financial asset and advanced Bitcoin’s accumulation through both debt and equity financing,”
SBI will also offer new tax-related services that exclude corporate taxes on crypto asset benefits. Furthermore, Metaplanet will have access to SBI’s crypto-dedicated platform, SBI VC, allowing Metaplanet to leverage all SBI-supported crypto assets as margin.
Bagging Bitcoin
According to a statement shared by the firm, Metaplanet has purchased 500 million yen, or $3.48 million, worth of Bitcoin, raising its total BTC holdings to 360.368 BTC, or approximately $21.95 million.
Metaplanet purchased the tokens at an average price of around $59,500 using the second half of a loan it took out specifically to buy more BTC. This investment follows the firm’s announcement that it intends to raise $59 million through stock options offerings, again solely to purchase more BTC.
The company appears to be taking note of MicroStrategy’s playbook and aggressively leveraging debt and equity to increase its BTC stash. Marathon Digital Holdings and others are also raising money in debt markets to bulk-buy Bitcoins. Evidently, institutions are very eager to get in on BTC at sub-$60,000 prices.
Always Stacking
Metaplanet has proudly declared yet another significant BTC purchase of 57.103 BTC for 500 million yen, or roughly $3.4 million.
Metaplanet secured an average price of around $59,300 per BTC, making this one of its cheapest purchases to date.
The firm is seemingly undeterred by the consequences of Japan’s interest rate hike, which, when paired with other global and geopolitical issues, resulted in a significant – but brief – selloff across global markets.
Metaplanet’s commitment to leveraging BTC as a treasury reserve asset seems to be working in its favor. Furthermore, it aims to offer BTC exposure to domestic investors who will benefit from favorable taxes.
The firm now commands 303.095 BTC in its holdings and intends to increase this significantly by allocating $59 million to further purchases.
Bitcoin Loan
Unfazed by crypto and traditional stock market woes, Japanese firm Metaplanet continued its aggressive Bitcoin investment strategy by announcing a 1 billion yen ($6.7 million) loan.
“We plan to allocate nearly the entire loan amount to purchasing Bitcoin.”
While taking out a loan to purchase Bitcoins may be something that any level-headed person would advise against, it’s worth noting that the loan bears a meager 0.1% per annum interest rate. According to the statement, Metaplanet will repay the loan in a lump sum.
“While the loan will incur interest, we expect its impact on our consolidated results for the fiscal year ending December 2024 to be minimal.”
Emphasizing its confidence in the asset, Metaplanet says its “basic policy” is to HODL Bitcoin over the long term. It notes that should BTC be leveraged to fund its operations, it will “be recorded as a current asset on the balance sheet.”
Metaplanet Stock Offering
Metaplanet announced a new strategic initiative geared toward funding even more Bitcoin acquisitions.
According to the official notice, Metaplanet will begin offering common shareholders up to 10 billion yen, or roughly $69 million, worth of unlisted stock acquisition rights.
The notice informs that 8.5 billion yen worth some $59 million will be set aside for more Bitcoin investments. The rights to acquire will be allotted on Sept. 5, 2024. Investors will receive one stock acquisition right for every share of common stock they have.
After acquiring 245 BTC worth some $13.39 million, Metaplanet’s $59 million spend would see its holdings soar above 1200 BTC. That said, that is going by today’s prices of around $54,000 per BTC.
Metaplanet’s July Bitcoin blitz saw the firm purchase BTC in the low-to-mid $60,000 range. Seemingly undeterred by the market’s decline, Metaplanet remains confident in reigning crypto king.
Metaplanet Bags BTC
In a July 22, 2024 filing , Metaplanet disclosed an additional purchase of 20.38 BTC tokens at an average price of $62,800 per token. Bagging around $1.3 million marks the firm’s fourth BTC investment since the beginning of July.
Metaplanet kicked off July’s spending spree with an investment of 20.195 BTC, totaling roughly $1.24 million.
On July 8, the firm bagged another 42.47 BT C for an average price of around $60,000 per coin, totaling just over $2.5 million. This was followed by a July 16 purchase of 21.88 BTC worth $1.3 million when BTC had fallen below $60,000.
Most notably, the firm’s stock price and market cap have soared by simply adopting BTC, with an absurd 1,2750% increase between July 23, 2023, and July 23, 2024.
Initially specializing in real estate and hotel development, Metaplanet announced in April 2024 that it would pivot its focus to Bitcoin investments, causing its shares to soar by around 89%.
Web3 in Japan?
Japan’s institutions and industries are increasingly getting behind Bitcoin and Web3 in one way or another.
Tech behemoth Sony recently acquired crypto finance firm Amber Group and will soon restart defunct crypto exchange WhaleFin under a new name, S.BLOX. With a market value exceeding $100 billion, this could signal a huge boost to Japan’s domestic crypto industry.
In March 2024, the world’s largest pension fund, based in Japan, revealed it was researching new investment strategies, which included Bitcoin. Following the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S., a survey found that over half of Japanese investment managers plan to invest in crypto over the next three years.
However, despite these developments and best intentions, Japan’s regulatory landscape is muffling the latent potential of its burgeoning domestic crypto scene.
Regulation Woes
Japan legitimized Bitcoin as a legal payment method and officially regulated cryptocurrency exchanges in 2017. However, the domestic industry participants operate in a cumbersome regulatory environment.
Despite being home to two of the largest crypto exchanges (and hacks) in history, Japan’s decentralized finance (DeFi) sector failed to blossom compared to its Western counterparts.
There is a significant push from the nation’s institutions that are pressuring the government for access to crypto investment, but this would require regulatory adjustments.
Until Japan’s government adjusts and scales its crypto policies, hopes of a spot crypto exchange-traded fund (ETF) and developments in the DeFi space seem to remain stifled.
