Metaplanet Expands Bitcoin Holdings with $2.25 Billion Purchase Amid Bold Treasury Push

Metaplanet, the Tokyo-based Bitcoin treasury firm, has strengthened its position as one of the largest corporate holders of Bitcoin after acquiring an additional 136 BTC valued at 2.25 billion yen (around $15 million). The purchase, made at an average price of 16.5 million yen ($111,666) per coin, raises the company’s total stash to 20,136 BTC—worth more than 304 billion yen ($2.08 billion).

This latest move solidifies Metaplanet’s position as the sixth-largest publicly traded company globally in terms of Bitcoin treasury holdings. The firm, which has made Bitcoin its central reserve asset, is pursuing an aggressive long-term strategy: it aims to accumulate 100,000 BTC by the end of 2026 and eventually 210,000 BTC by 2027, representing roughly 10% of the total circulating supply.

Industry analysts believe Metaplanet may be on track to meet its ambitious goals. Pranav Agarwal, an independent director at Jetking Infotrain India, noted that with four months left in 2025, the firm is still capable of reaching its annual target. However, he also warned that a compression in the company’s market valuation relative to its Bitcoin net asset value could slow its pace of acquisitions.

The firm’s treasury strategy has been yielding significant returns. Between July and early September 2025, Metaplanet posted a BTC yield of 30.8%. In the prior quarter, the figure was an even more striking 129.4%. Despite these results, the company’s stock has struggled. Shares slipped nearly 4% after news of the latest purchase, closing at 682 yen—down 65% from their peak of 1,930 yen earlier this year.

To sustain its aggressive buying strategy, Metaplanet is turning to capital markets. The company has unveiled plans to raise more than $880 million through a public offering in overseas markets, which will include the issuance of up to 555 million new shares. If fully subscribed, the move could boost its outstanding stock from 722 million to nearly 1.3 billion shares. Proceeds will be directed primarily toward expanding its Bitcoin holdings, with an additional $45 million earmarked for its Bitcoin Income Business, which generates revenue through covered call options on BTC.

Metaplanet argues that this dual approach—balancing equity issuance with modest debt obligations—provides resilience against forced liquidations while positioning the firm to benefit from both Bitcoin’s appreciation and ongoing weakness in the Japanese yen.

The broader impact of such strategies could be significant for the Bitcoin market itself. With more than one million BTC now locked up by corporate treasuries worldwide—roughly 5% of the total supply—companies like Metaplanet provide a strong demand base that may reduce selling pressure and contribute to upward price movements.

At press time, Bitcoin trades at $112,030, up 2.64% over the past week. For Metaplanet, however, the long game is clear: keep stacking Bitcoin, protect against inflation, and position itself as a dominant corporate custodian of digital assets.