Metaplanet Inc., Japan's premier Bitcoin treasury company, has achieved a new all-time high in market capitalization this week, fueled by Bitcoin's unprecedented price rally. The company's strategic Bitcoin acquisitions, innovative financing solutions, and growing investor trust have propelled its valuation to ¥470.3 billion—a staggering 554.5% year-to-date increase—mirroring Bitcoin's ascent to a record $109,500.
Metaplanet's Rapid Bitcoin Accumulation
Over the past year, Metaplanet has dramatically expanded its Bitcoin holdings:
- Initial Holdings: 98 BTC (2024)
- Current Holdings: 7,800 BTC (as of May 19, 2025)
- Average Purchase Price: $103,873 per BTC
- Current Value: Over $800 million
This aggressive accumulation strategy has positioned Metaplanet as a key player in corporate Bitcoin adoption.
Innovative Financing: The "21 Million Plan"
Metaplanet recently completed its 13th–17th series of stock acquisition rights under the "21 Million Plan," raising ¥93.3 billion in 60 trading days. Key highlights:
- No Shareholder Dilution: Equity financing structured to preserve value.
- Premium Issuance: MS Warrants issued at a 6.8% premium over the share price.
- Funding Use: Proceeds directed toward additional Bitcoin purchases.
👉 Discover how companies leverage Bitcoin for growth
Market Expansion and Investor Access
After listing on the OTCQX Market, Metaplanet gained broader access for U.S. investors. Simon Gerovich, President of Metaplanet, stated:
"As Asia’s only dedicated Bitcoin Treasury Company, this step reflects our commitment to advancing Bitcoin adoption globally while enhancing shareholder value."
Financial Performance Highlights (Q1 FY2025)
| Metric | Performance | Change (QoQ) |
|---|---|---|
| Revenue | ¥877 million | +8% |
| Operating Profit | ¥593 million | +11% |
| Net Income | ¥5.0 billion | - |
| Unrealized BTC Gains | ¥13.5 billion | - |
Bitcoin Correlation and Investment Appeal
Metaplanet’s quarterly BTC yields have consistently outpaced market expectations (41.7%–309.8%), driving:
- 138.1x increase in market capitalization.
- 103.1x growth in net asset value.
The company’s stock is now a preferred proxy for Bitcoin exposure on the Tokyo Stock Exchange, despite short-selling pressures.
👉 Why Bitcoin-backed equities attract investors
FAQs
1. How does Metaplanet finance its Bitcoin purchases?
Metaplanet uses innovative equity financing (like the "21 Million Plan") to raise capital without diluting shareholder value, often issuing warrants at premiums.
2. Why is Metaplanet compared to MicroStrategy?
Both companies adopt a Bitcoin-first treasury strategy, accumulating BTC as a primary reserve asset to hedge against fiat inflation.
3. What risks does Metaplanet face?
Short-term Bitcoin price volatility can impact unrealized gains, but long-term holders benefit from Bitcoin’s scarcity-driven appreciation.
4. How can U.S. investors access Metaplanet shares?
Through the OTCQX Market, which provides streamlined access to international equities.
5. What’s next for Metaplanet?
Continued Bitcoin acquisitions and potential expansion into Bitcoin-based financial products, leveraging its treasury holdings.