Skip to content
- Metaplanet expands Bitcoin reserves with new acquisitions.
- BTC Yield shows strong performance across multiple quarters.
- Shareholder impact measured through unique Bitcoin-based metrics.
Metaplanet Inc. confirmed another purchase of Bitcoin as part of its ongoing treasury operations. The company acquired 103 Bitcoin at an average price of 16.8 million yen per coin. The total value of this purchase stands at 1.736 billion yen.
With this acquisition, the company now controls 18,991 Bitcoin. The average cost price per holding is 15.05 million yen, amounting to 285.8 billion yen. This steady growth represents the prioritization of Bitcoin as a strategic asset by the firm.
Management added the Bitcoin Treasury Operations line of business officially late in 2024. Since then, acquisitions have gained pace through both capital market initiatives and internal funds.
Metaplanet Tracks Bitcoin Performance with BTC Yield
Metaplanet measures its performance by special indicators correlated to Bitcoin. BTC Yield indicates the percentage difference between the total holdings in Bitcoin and fully diluted outstanding shares. It reflects the success rate of the acquisition strategy by the company in terms of the Bitcoin amount per share.
The results show strong growth. Between July and September 2024, BTC Yield reached 41.7 percent. The following quarter brought an increase to over 300 percent. The company achieved 95.6 percent in the first quarter of 2025, followed by 129.4 percent in the second. For the most recent period ending August 25, 2025, the BTC Yield was 29.1 percent.
These results highlight how the strategy performs even with dilution from new share issuance. BTC Gain isolates the increase in Bitcoin holdings that comes only from treasury operations, while BTC ¥ Gain translates that figure into yen. Together, these measures give shareholders a clear view of how treasury activities add value in Bitcoin and local currency terms.
Metaplanet Uses Share Issuance to Fund Bitcoin Strategy
Metaplanet has used financing tools to fund its Bitcoin strategy. Earlier this quarter, it executed partial redemptions of bonds issued in June 2025, repaying more than 12 billion yen. The company funded these redemptions through proceeds from exercised stock acquisition rights.
July and August saw multiple tranches of new shares issued through these rights. Transactions included several large exercises, such as 9 million shares on both July 10 and July 14, and 14.9 million shares between August 12 and August 15.
These issuances contributed to financing further Bitcoin acquisitions while maintaining the pace of redemptions. The structure ensures that Bitcoin per fully diluted share is measured fairly, with moving strike warrants included only after exercise. This approach aligns with U.S. capital market standards and provides transparency for shareholders.
Metaplanet continues to balance Bitcoin accumulation with responsible financing. The strategy reflects its commitment to long-term growth through digital assets, even as it manages dilution and capital obligations.
Related Reading: Bitcoin’s Future in the US: Bessent Details Treasury’s Budget-Neutral Plan
