Japan’s Metaplanet expands Bitcoin holdings, strengthens treasury strategy

Japan’s Metaplanet (TSE Standard: 3350 / OTCQX: MTPLF), the country’s first and only publicly listed Bitcoin treasury company, has announced its latest Bitcoin acquisition, reinforcing its commitment to leveraging Bitcoin as its core treasury reserve asset.

Latest Bitcoin Purchase & Financial Strategy

Metaplanet CEO Simon Gerovich disclosed via X platform that the company has acquired 330 BTC for approximately $28.2 million, with an average purchase price of $85,605 per Bitcoin. He added that his company holds a total of 4,855 BTC as of April 21, 2025, with the aggregated cost being $414.5 million and an average price being $85,386 per Bitcoin.

Metaplanet has acquired 330 BTC for ~$28.2 million at ~$85,605 per bitcoin and has achieved BTC Yield of 119.3% YTD 2025. As of 4/21/2025, we hold 4855 $BTC acquired for ~$414.5 million at ~$85,386 per bitcoin. pic.twitter.com/EUFSbUCOPW

— Simon Gerovich (@gerovich) April 21, 2025

Gerovich is a Harvard University graduate with an AB in Applied Mathematics. As Metaplanet’s Representative director and president, he leads the company’s Bitcoin investment strategy, shapes its overall vision, oversees capital‑raising efforts and manages relationships with investors. An active participant in the digital asset space since 2014, he began his career in Tokyo at Goldman Sachs as an equity derivatives trader. He later co‑founded and chaired Red Planet Hotels, a regional operator specializing in value‑focused lodging across Asia, and before that served as CEO of Evolution Capital Public Company Limited, a real estate asset manager listed on the Stock Exchange of Thailand. Beyond his corporate roles, Gerovich is a member of YPO, the premier global network for chief executives.

Per the Notice of Additional Bitcoin Purchase dated April 21, 2025 and published on Metaplanet’s website, the latest acquisition is part of the company’s Bitcoin Treasury Operations, which aims to optimize Bitcoin acquisition while supporting a financially strategic growth structure.

BTC Yield and Financial Metrics

The company reports BTC Yield as a key performance indicator (KPI) reflecting the percentage growth in Bitcoin per share. According to Metaplanet’s disclosed performance:

• BTC Yield from January 1st, 2025, to March 31st, 2025: 95.6%
  
• BTC Yield from April 1st, 2025, to April 21st, 2025: 12.1%
  
• Total Bitcoin Holdings on April 21st, 2025: 4,855 BTC
  
• Aggregate Cost Basis: 62.165 billion yen
  
• Average Purchase Price: 12,804,361 yen per BTC

BTC Gain and BTC ¥ Gain further quantify Metaplanet’s Bitcoin accretion, isolating the impact of share dilution to provide shareholders a clearer view of financial results in yen terms.

Capital Markets Activity & Funding Strategy

For its Bitcoin‐buying strategy, Metaplanet has tapped capital markets—granting stock acquisition rights and issuing bonds to EVO FUND:

• January 28, 2025: Completed a third‑party allotment of the 13th through 17th Series Stock Acquisition Rights.
  
• February 10, 2025: Issuance of the 6th Series of Ordinary Bonds, raising JPY 4 billion.
  
• March 3, 2025: Completion of the final exercise of 13th Series rights and partial exercise of 14th Series rights.
  
• April 11, 2025: Issuance of the 18th Series Stock Acquisition Rights, a paid employee options program.
  
• April 16, 2025: Metaplanet issued its 11th Series of ordinary bonds, securing USD 10 million in proceeds.

Metaplanet maintains a disciplined approach to funding its Bitcoin purchases, ensuring capital is allocated efficiently through strategic equity and debt instruments.

Bitcoin Hotel Initiative & Bitcoin Education Efforts

In addition to its treasury functions, Metaplanet promotes Bitcoin uptake through ventures like The Bitcoin Hotel — the newly rebranded Royal Oak Gotanda in Tokyo. The hotel, set to open in Q3 2025, aims to integrate Bitcoin into everyday experiences, hosting educational workshops and events focused on demystifying Bitcoin and promoting its adoption.

Additionally, Metaplanet leverages its exclusive license for Bitcoin Magazine Japan, facilitating Bitcoin education and adoption across the country. The company’s mission includes onboarding one million individuals and organizations into the Bitcoin ecosystem, positioning itself as a leader in Japan’s Bitcoin transformation.

Strategic Vision & Commitment to Shareholders

Metaplanet continues to align its financial strategy with Bitcoin’s role as a reserve asset, stating via its website:

“Metaplanet is dedicated to maximizing BTC Yield and creating long-term shareholder value by strategically expanding its Bitcoin holdings.”

By employing a multifaceted capital-raising approach, Metaplanet ensures its Bitcoin acquisitions remain accretive, reinforcing its commitment to Bitcoin education, transparency, and disciplined financial management.

Featured photo shows Mori Tower – Roppongi, Tokyo, Japan. Metaplanet is located in the building. The photograph is a work by Daderot and is in public domain. Reproduction of the architectural work(s) in this image is permitted under Section 46 of the Copyright Law of Japan, as long as it does not constitute “imitative reproduction of an architectural work and offering it to the public by transfer of ownership of its copies.” This permission does not apply to artistic works in general or to buildings that are considered artistic works, unless they are in public domain.