Japanese investment company Metaplanet has revealed that its Bitcoin holdings have reached 2,100 BTC. The firm announced that its BTC holdings are now equivalent to 0.01% of the total Bitcoin supply.
Metaplanet said in a notice of additional purchase that it has spent roughly 25.9 billion Japanese yen ($172.8 million) to purchase its total Bitcoin holdings. Metaplanet initiated its Bitcoin strategy on April 8, 2024, and has continued to accumulate Bitcoin as part of its treasury operations.
The firm began accumulating Bitcoin with an initial purchase of 97.85 BTC on April 23, at an average purchase price of 10.2 million yen ($68,047) per Bitcoin.
Metaplanet achieves 0.01% of total Bitcoin supply
Metaplanet has acquired 68.59 BTC for ~$6.6 million at ~$96,335 per bitcoin and has achieved BTC Yield of 18% YTD 2025. As of 2/20/2025, we hold 2100 $BTC acquired for ~$169.9 million at ~80,905 per bitcoin. pic.twitter.com/gkq4fKfudR
— Simon Gerovich (@gerovich) February 20, 2025
Tokyo-based investment firm Metaplanet has announced that it has expanded its Bitcoin holdings with a $6.6 million purchase. The purchase has boosted the company’s Bitcoin holdings to 2,100 BTC at an average purchase price of 12.3 million yen ($82,009) per Bitcoin.
Metaplanet also disclosed that it had purchased 68.59 Bitcoins for around 996 million Japanese yen. The latest purchase brought the firm’s Bitcoin holdings to roughly 0.01% of the total Bitcoin supply. The investment company also acknowledged that the transaction was made at an average price of 14.53 million yen per BTC.
“Our goal is to accelerate Bitcoin accumulation through effective treasury operations, leveraging capital markets to maximize Bitcoin per share and drive long-term shareholder value.”
–Simon Gerovich, CEO of Metaplanet.
The firm said that it had strategically increased its total Bitcoin holdings via acquisitions funded by capital market activities and operating income. Metaplanet’s Board of Directors approved the issuance of the 13th to 17th Series of Stock Acquisition Rights to EVO FUND via third-party allotment on January 28, 2025.
The firm said the issuance consisted of five tranches, each comprising 4.2 million shares for a total of 21 million shares. Metaplaent set the exercise price for each tranche at 100% of the previous day’s closing price (0% discount). The tranches also have an adjustable exercise price mechanism and suspension provisions designed to align with market conditions.
The exercises have garnered the company approximately 2.38% completion of its previously disclosed “21 Million Plan.” The firm has also garnered approximately 3.02 billion yen in net proceeds to date from the exercise of the 13th Series of Stock Acquisition Rights.
Metaplanet uses BTC yield to measure the performance of its Bitcoin
Metaplanet also revealed that it uses BTC yield to assess the performance of its Bitcoin acquisition strategy, which was intended to be gradual for shareholders. The company disclosed that its BTC yield was 41.7% from July 1, 2024, to September 30, 2024. The firm’s BTC Yield reached 309.8% from October 1, 2024 to December 31, 2024. From the beginning of 2025 to the time of publication, Metaplanet achieved a BTC yield of 18%.
The Tokyo-based investment firm said it uses BTC yield as a KPI to assess its strategy of acquiring Bitcoin in a manner it believes will be gradual to shareholders. The firm also uses BTC yields to assist investors in evaluating the impact of issuing additional shares or convertible instruments to fund Bitcoin acquisitions.
Metaplanet also highlighted the limitations of BTC yield, which excludes debt and other liabilities that take priority over common shares. The firm also assumes that all debt will be refinanced or converted into common shares under its terms in the case of future convertible debt.
Metaplanet noted that BTC yield did not represent returns on Bitcoin holdings or returns on investment for shareholders. The market price of the company’s common shares is influenced by factors beyond their Bitcoin holdings and share count, which means that BTC yield does not predict or determine the firm’s stock price.
The investment company said that BTC yield was designed to evaluate whether the use of equity capital to acquire Bitcoin benefited shareholders in terms of Bitcoin accumulation. BTC yield did not consider the source of funds used for Bitcoin purchases, such as Metaplanet acquiring Bitcoin through the rights issued on August 6, 2024. The firm also maintained that BTC yield may overstate or understate the impact of equity capital on Bitcoin acquisitions since not all BTC purchases were funded via equity issuances.
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