Japanese technology firm Metaplanet has announced the purchase of an additional 2,205 BTC, expanding its total Bitcoin holdings to 15,555 BTC. The latest acquisition, valued at approximately 34.5 billion yen (about $238.7 million), pushes Metaplanet’s Bitcoin treasury to roughly 225.8 billion yen ($1.7 billion) at an average purchase price of 14.5 million yen per coin.
The company has aggressively built its Bitcoin reserves since designating Bitcoin treasury operations as an official business unit in December 2024. In just the past week, Metaplanet added 2,017 BTC, boosting its BTC Yield — a metric tracking Bitcoin per fully diluted share — by 15.1% between July 1 and July 7. Quarter-to-date, these purchases amount to 31.7 billion yen in fresh BTC accumulation.
Metaplanet’s BTC Yield has surged an impressive 416.6% year-to-date, according to CEO Simon Gerovich, who shared on X:
“Metaplanet has acquired 2,205 BTC for ~$238.7 million at ~$108,237 per bitcoin and has achieved BTC Yield of 416.6% YTD 2025. As of 7/7/2025, we hold 15,555 $BTC acquired for ~$1.54 billion at ~$99,307 per bitcoin.”
Metaplanet’s continued acquisitions have been financed through a mix of operating income and capital market activities, including an early redemption of 6 billion yen from a recent bond issuance, repaid with proceeds from stock acquisition rights exercises. Since March 2025, the company’s BTC holdings have skyrocketed from under 4,000 BTC to over 15,500 BTC, effectively quadrupling in just four months.
The firm’s Bitcoin-focused strategy mirrors that of U.S.-based Strategy but with a distinctly Japanese approach. However, the long-term viability of corporate Bitcoin treasury strategies is drawing scrutiny.
Glassnode lead analyst James Check recently questioned whether the era of “easy gains” for corporate BTC treasuries might be ending as the market matures. Similarly, Matthew Sigel, head of digital asset research at VanEck, warned that at-the-market (ATM) share issuance programs — often used to fund BTC acquisitions — could become dilutive if a company’s stock price approaches its Bitcoin net asset value (NAV).
Meanwhile, legal risks in the sector are also rising. New York law firm Pomerantz LLP has filed a class-action lawsuit against Michael Saylor’s Strategy, alleging that the company misled investors about the profitability and risks tied to its aggressive Bitcoin strategy.
Despite growing skepticism, Metaplanet’s bullish stance suggests the company sees Bitcoin as a transformative store of value within its corporate balance sheet, setting an aggressive precedent for other Japanese firms exploring digital assets.
July 2025, Cryptoniteuae