TLDR
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Metaplanet purchased 1,009 BTC worth $112M at $111,094 average price.
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The firm now holds 20,000 BTC, ranking sixth among public companies.
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Metaplanet targets 30,000 BTC by year-end 2025, up from 10,000 earlier.
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Shares fell 3.87% as investors weighed dilution risks from new funding.
Metaplanet has expanded its Bitcoin holdings to 20,000 BTC after a new purchase worth $112 million. The Japanese firm is moving closer to its 2025 goal, yet questions remain about whether it can challenge the larger corporate treasuries led by Michael Saylor’s Strategy.
Metaplanet acquires 1,009 BTC for treasury
The Tokyo-based company disclosed on Monday that it acquired 1,009 BTC at an average price of about $111,094. The investment totaled 16.48 billion yen, or roughly $112 million. Based on Bitcoin’s price of $107,360 at press time, the company’s holdings are now valued at more than $2.14 billion.
This purchase raises Metaplanet’s total stash to 20,000 BTC. The company now ranks as the sixth-largest corporate Bitcoin holder worldwide. According to BitcoinTreasuries data, it is expected to surpass Riot Platforms, which held 19,239 BTC in its reserves.
Meanwhile, Metaplanet has set an ambitious goal of reaching 30,000 BTC in treasury by the end of 2025. To achieve this, the company must acquire roughly 2,500 BTC each month for the next four months.
Earlier this year, the company had targeted 10,000 BTC by year-end but exceeded the milestone months in advance. Longer term, Metaplanet aims to accumulate 210,000 BTC by 2027, equal to 1% of Bitcoin’s total supply.
Funding growth through capital markets
The company’s expansion strategy has relied heavily on raising capital from equity markets. Between July 10 and August 29, it issued more than 80 million new shares.
Most of the proceeds were directed toward redeeming bonds early and purchasing more Bitcoin.
To measure its performance, Metaplanet has introduced a metric called BTC Yield. This indicator tracks growth in Bitcoin holdings per fully diluted share. In the latest quarter-to-date, the company reported a BTC Yield of 30.7%, after achieving 129.4% in the previous quarter.
Shareholder meeting set for fresh capital raise
The latest acquisition comes as Metaplanet prepares for a shareholder meeting on its proposed international share offering. The plan involves issuing 555 million new shares to raise around 130 billion yen ($837 million). The funds would support further Bitcoin purchases over the next two months.
Eric Trump, a member of Metaplanet’s Strategic Board of Advisors, is expected to attend the meeting. However, market reaction has been cautious. On September 1, the company’s shares fell 3.87% during morning trading in Japan, as investors weighed dilution risks.
Despite the pullback, Metaplanet remains one of the most active stocks in Japan. Its shares have gained more than 136% year-to-date, supported by its Bitcoin strategy and inclusion in benchmark indexes such as the FTSE Japan Index.
