Metaplanet built up its treasury to 5,000 BTC with ongoing acquisitions in the past week. The Japanese company allocated another $13.4M to BTC, at an average price of $89,900.
Metaplanet acquired more Bitcoin (BTC) just days after adding another 330 coins to its treasury. The latest purchase allocated $13.4M for 145 BTC, building up the company’s treasury to a total of 5,000 BTC. Metaplanet added 1,000 BTC just this April, as it accelerated purchases.
The Japanese company is still using small-scale debt issuance for each purchase, matching its BTC buying to user demand.
Metaplanet has already fulfilled 50% of its acquisition goals for 2025, announced the company’s CEO Simon Gerovich. The company’s acquisitions are relatively small compared to those of Strategy (MSTR), but signal confidence in the BTC market.
5,000 BTCを突破しました 🚀
2025年末までに10,000 BTCという初期目標の50%に到達。世界有数のビットコイン保有企業を目指す中で、大きな一歩となりました。日本から、世界のビットコインレースを牽引していきます。 pic.twitter.com/u86xdc6bYV
— Simon Gerovich (@gerovich) April 24, 2025
Metaplanet’s activity gives insight into a growing group of companies aiming to create their own approach to leveraged buying, while competing for scarce BTC with the leading holder, Strategy. Metaplanet has achieved a yield of 121.1% in the year to date after the latest acquisition, thanks to favorable price action in the past two weeks.
Metaplanet uses BTC yield as a key performance metric for its BTC acquisition strategy. The yield metric has varied between 47% at the start of the firm’s buying journey, rising up to 300% at one point. Metaplanet, Inc. still retains over 243% stock gains for the past six months, trading at 355 JPY. The stock market has not priced the company’s BTC acquisitions in the past month, despite the appreciation of the crypto asset in April.
Metaplanet used BitFlyer, one of the older Japanese exchanges, to acquire BTC on the open market. Unlike Strategy, Metaplanet is transparent about its wallets and treasury operations. The 5,000 BTC acquired to date are held in a public wallet. The company is also transparent about repaying its fiat debt, despite the favorable conditions for finding new debt financing.
Metaplanet is among the top 10 holders of corporate treasuries, surpassed only by legacy miners and the biggest leveraged buyers. The Japanese company accelerated its buying since March, achieving a relatively high average acquisition price of $85,317 per BTC.
Metaplanet adds to BTC held in corporate treasuries
Among the known whales holding BTC, corporate treasuries are the most common. 92 public companies and 16 private entities hold BTC in various reserves. The holding structures differ, from legacy mined coins to newly acquired ones with various bond and stock instruments.
In total, large–scale entities hold 3.16M BTC, becoming one of the significant factors for BTC scarcity. Corporate entities and other holders surpassed both miners and exchanges as the biggest category of BTC owners, just as retail wallets capitulated and shed their coins.
Corporate buyers are working together with whale and shark wallets, continuing to take coins from OTC markets and the open market. The BTC market rarely reacts to the purchase announcement, though price rallies often coincide with periods of Strategy or other entities acquiring more BTC.
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