Metaplanet Inc. Adds Another 319 Bitcoins to Its Treasury, Bringing Its Total Holdings to 4,525 BTC

Metaplanet Inc., a publicly listed Japanese firm, has announced it has added 319 more Bitcoins to its balance sheet as part of its treasury strategy.

Publicly listed Japanese firm Metaplanet Inc. has disclosed that it has added another 319 Bitcoins to its balance sheet as part of its treasury strategy. This batch of BTC was purchased at an average price of 11.8 million yen, bringing the total to 3.78 billion yen.

This latest acquisition brings Metaplanet’s total Bitcoin stash to 4,525 BTC, bought at an average price of 12.8 million yen per BTC, which amounts to approximately 58.1 billion yen in total.

Despite the crypto downturn, Metaplanet’s stock has shown performance with a 0.57% gain this year. As the company integrates more BTC into its portfolio, it’s showcasing strong resilience and a focused strategy to expand its digital asset holdings.

A Special Metric: BTC Yield

The company measures the success of its Bitcoin accumulation strategy with a special metric called BTC Yield. This yield shows how much more Bitcoin they accumulate compared to their shares in circulation.

From January to March 2025, their BTC Yield was a solid 95.6%, and between April 1 to April 14, it was 6.5%, showcasing continued growth despite a shorter period.

How They’re Funding the Buying Spree

Metaplanet has been funding its massive Bitcoin purchases by teaming up with EVO FUND, a major investor. Instead of taking regular loans that require interest payments, the company has been issuing zero-coupon bonds, which don’t need interest to be paid. Along with that, EVO FUND gets the right to buy Metaplanet shares at the market price.

Now, when EVO FUND buys those shares, they pay in cash. And that cash is then used by Metaplanet either to repay the bonds or buy more Bitcoin.

Between January and March 2025, Metaplanet rolled out several rounds of these bonds, with each tranche ranging from 2 to 4 billion yen, to support its ongoing Bitcoin investment strategy.

Issuance of Shares and Its Impact on Shareholders

In the first quarter of 2025 alone, Metaplanet issued a massive 64.6 million new shares, and by April 14, they had issued a staggering 106.3 million shares. This level of share issuance is significant and can impact existing shareholders.

However, Metaplanet claims they’re carefully managing dilution, which means shareholders aren’t losing too much ownership percentage in the company. They use a calculation of “Bitcoin per fully diluted share” to show that each share is becoming more valuable in terms of Bitcoin.

The company's innovative approach to treasury management and its bold vision for cryptocurrency integration are positioning it as a unique entity in the evolving financial landscape.

It remains to be seen how Metaplanet will navigate the complexities of the market and sustain the momentum of its treasury investment strategy in the long run.