The Japanese company doesn’t mess around. Their average purchase price across all holdings sits at 12,441,856 yen ($81,195), with total Bitcoin expenditures hitting $169.9 million. That’s 0.01% of the entire Bitcoin supply. Small potatoes globally, but massive in Japan. The fixed supply cap of Bitcoin helps drive scarcity value for institutional investors.
Metaplanet’s appetite is nowhere near satisfied. They’re gunning for 10,000 BTC by year’s end and 21,000 BTC by 2026. Fundamentally, they’ve only acquired 10% of their long-term target. The funding? A mix of internal cash, equity, and debt—$20 million raised in equity capital plus 4 billion yen in 0% unsecured bonds. Must be nice.
Metaplanet’s Bitcoin ambitions remain ravenous—targeting 21,000 BTC by 2026 with creative zero-interest financing most companies could only dream of.
The market responded with characteristic skittishness, sending Metaplanet‘s stock down 3% to 6,010 yen. Still, that’s barely 20% off their all-time high. Their recent acquisition of 2,235 BTC valued at approximately $12.9 million significantly increases their total holdings. Their market cap has skyrocketed a mind-boggling 7,000% in 2024, with trading volume up 430-fold.
Their shareholder base? Quintupled to over 50,000 investors.
Since December 2024, Bitcoin treasury operations have become Metaplanet’s bread and butter. They’re fundamentally positioning themselves as “Japan’s MicroStrategy”—a Bitcoin-first company viewing the cryptocurrency as a hedge against economic chaos.
The timing is interesting. Bitcoin recently hit $109,241 before settling around $89,000. Metaplanet’s buying even as the price has cooled off. Institutional interest in crypto keeps climbing, especially in Japan’s evolving investment scene.
What’s next? They join the MSCI Japan Index on February 28. More bonds. More stock sales. More Bitcoin. It’s their playbook, and they’re sticking to it. Period.
