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- Metaplanet plans to raise $250 million through bonds to fund large-scale Bitcoin accumulation via its U.S. subsidiary.
- The firm now holds over $536 million in Bitcoin, with a 2025 yield of 136.7% and an average purchase price of $86,672 per coin.
- Blockstream CEO Adam Back says Metaplanet is achieving a 2x BTC yield in three months, outpacing MicroStrategy by 3.8x in mNAV growth rate.
- The company’s stock jumped 11.5%, though analysts warn of potential volatility despite strong early returns.
Japanese investment firm Metaplanet is rapidly carving out a name for itself as a major player in the digital asset space. In a bold and calculated move, the company has launched a U.S.-based subsidiary, Metaplanet Treasury Corp., with one clear mission: accumulate Bitcoin at scale.
To fund this aggressive accumulation strategy, Metaplanet has announced plans to raise $250 million through a bond issuance. This capital infusion will be used to further increase its Bitcoin holdings, reinforcing its commitment to a “Bitcoin-first” corporate model. The move mirrors, and perhaps aims to outpace, the high-profile Bitcoin strategy of U.S. firm MicroStrategy, which has become synonymous with institutional BTC accumulation.
Metaplanet’s strategy has drawn the attention of industry veterans, including Blockstream CEO Adam Back. Known for his work on Bitcoin infrastructure and cryptography, Back has lauded the efficiency of Metaplanet’s approach compared to MicroStrategy’s. He introduced a unique metric called “months to mNAV cover,” which measures how quickly a company’s market Net Asset Value (mNAV) grows relative to its Bitcoin investment.
According to Back, Metaplanet is currently achieving a 2x BTC yield in just three months. This makes it 3.8 times faster than MicroStrategy when measured by the same mNAV metric. He projects that Metaplanet’s mNAV, currently at 3.3x, could rise as high as 8.3x if the current trend continues. If so, it could propel its stock price from ¥533 to ¥1,340, a more than twofold increase.
Metaplanet Bitcoin Holdings Top $536 Million
As of this month, Metaplanet holds more than $536 million worth of Bitcoin, acquired at an average price of $86,672 per coin. Its BTC yield for 2025 is currently reported at 136.7%, signaling highly efficient capital deployment. Investors are responding accordingly; the company’s stock has seen a recent rally, climbing 11.5% to close at ¥477 ($3.33).
However, some analysts are urging caution. Crypto market observer @agentic_t acknowledged the impressive returns but warned about potential volatility. “2x yields are great, but not always guaranteed,” the analyst wrote, emphasizing the importance of factoring in risk-adjusted returns.
Still, with its growing U.S. presence, high-profile endorsements, and accelerating Bitcoin acquisition strategy, Metaplanet is making a compelling case for being the next major Bitcoin proxy in public markets. As traditional finance continues to intersect with digital assets, all eyes are now on Metaplanet.
Is this Japan’s answer to MicroStrategy or the beginning of something even bigger? Investors around the world are watching closely.
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