Metaplanet Acquires 463 Bitcoin for $53.7 Million
Metaplanet has purchased 463 Bitcoin for $53.7 million, raising its total holdings to 17,595 BTC. The acquisition pushes its reserves above $2 billion and strengthens its standing as the seventh-largest corporate Bitcoin holder worldwide.
The Tokyo-based firm completed the purchase on Aug. 4 at an average price of $115,895 per coin, spending ¥8 billion ($53.7 million). The buy followed a 4% weekend decline in Bitcoin’s price, which briefly dipped to around $111,800 after weaker-than-expected U.S. nonfarm payrolls data pressured risk assets.
The move shows Metaplanet’s strategy of buying into dips. Over the past year, the company’s Bitcoin holdings have grown rapidly from under 1,000 BTC in mid-2024 to more than 17,000 BTC today, as shown in company filings.
Company Targets 210,000 BTC by 2027 to Secure 1% of Supply
The latest acquisition brings Metaplanet 8.4% of the way toward its goal of holding 210,000 BTC by the end of 2027, equivalent to 1% of the cryptocurrency’s total supply. Such a share would represent a rare position of influence in a market where scarcity underpins long-term value.
Data from BitcoinTreasuries.net shows the firm currently owns 0.082% of the total supply, placing it alongside some of the world’s most recognized institutional holders.
Metaplanet now ranks seventh globally among public companies holding Bitcoin. It trails Riot Platforms, which holds about 19,273 BTC, and Bullish with 24,340 BTC.
Strategy (formerly MicroStrategy) remains the largest holder with 628,791 BTC worth $71.9 billion. Strategy is followed by Marathon Digital Holdings with nearly 50,000 BTC and Twenty One Capital with 37,229 BTC. Tesla, by contrast, holds about 11,509 BTC valued at $1.3 billion.
$3.7B Preferred Share Plan Could Finance Further Large-Scale Purchases
To support its target, Metaplanet has proposed raising $3.73 billion through perpetual preferred shares. The structure allows long-term capital raising without diluting common stock or increasing debt.
The preferred stock is expected to offer dividends of up to 6%, depending on demand. If fully subscribed, the funds could finance the purchase of more than 30,000 BTC at current prices — a major step toward its 210,000 BTC goal.
However, the dividend obligations could add pressure if Bitcoin’s price experiences prolonged weakness. The strategy mirrors that of Strategy, which used similar offerings to build the largest corporate Bitcoin treasury.
Metaplanet’s purchase comes amid contrasting signals in institutional crypto activity. In the final week of July, 16 companies collectively added more than $7.8 billion in digital assets to their treasuries. Yet, early August saw $812.3 million in outflows from U.S. spot Bitcoin ETFs, among the largest daily withdrawals on record.
In Japan, Metaplanet also benefits from a weakening yen and growing inflation concerns. These economic factors have increased the appeal of Bitcoin as a hedge against currency depreciation. This macro backdrop has given further weight to its Bitcoin-first strategy.
Despite its expanding reserves, Metaplanet’s stock fell about 6% to ¥998 in Monday trading.
Unlike rivals with diversified business models, such as Strategy’s software operations or Riot’s Bitcoin mining, Metaplanet has fully pivoted to cryptocurrency. Its average purchase price of around $115,895 per coin leaves it more exposed to downturns compared with peers that entered at lower costs.
Still, the firm’s year-to-date Bitcoin yield of 459.2% suggests the potential upside if Bitcoin maintains its long-term upward trajectory.