Metaplanet Acquires 1,111 Bitcoin, Elevating Total Holdings to 11,111 BTC
Metaplanet Inc. has revealed the acquisition of an additional 1,111 Bitcoin, raising its total holdings to 11,111 BTC.
The company, listed in Tokyo, made this announcement in a filing dated June 23, revealing a total investment of 17.26 billion yen, approximately $108 million. This latest purchase was made at an approximate rate of 15.54 yen, or about $97,000, per Bitcoin (BTC).
This acquisition strengthens the firm’s proactive treasury strategy, with a goal of reaching 210,000 BTC, or 1% of Bitcoin’s total supply, by the end of 2027. This comes just a week after surpassing its 2025 target of 10,000 BTC, indicating a notable increase in purchasing activity.
Metaplanet’s Bitcoin-to-share ratio, assessed through a distinctive indicator termed BTC Yield, has more than doubled in this quarter alone. As of June 23, the company reported a quarter-to-date Bitcoin Yield of 107.9%, up from 95.6% in Q1.
This indicator evaluates Bitcoin growth relative to fully diluted shares, showcasing the positive effects of Bitcoin accumulation amid any equity issuance.
Originally branded the “21 Million Plan” to signify Bitcoin’s capped supply, Metaplanet’s strategy underwent a revision in June 2025. The firm now aims to acquire 30,000 BTC by the end of 2025 and 100,000 by the end of 2026. CEO Simon Gerovich views Bitcoin as a critical strategic asset and envisions Metaplanet as a tax-efficient means for Japanese investors to access BTC.
The company has primarily funded its Bitcoin acquisitions through convertible bonds and stock warrants. On the same day as the BTC acquisition announcement, it also reported finalizing a 558.7 million yen allotment to EVO FUND through new stock acquisition rights.
While Metaplanet’s strategy aligns with other firms, it has outperformed its U.S. counterparts in stock performance, showing a remarkable over 1,600% increase over the past year. However, this rapid growth comes with inherent risks.
At present, Metaplanet trades at an implied Bitcoin price ranging from ¥93 to ¥118 million, approximately $596,000 to $759,000 per coin, indicating that investors are paying a considerable premium over the market value for access to its BTC treasury.
Some analysts warn that the quick rise of “Saylor copycats”—over 220 publicly traded companies—could pose systemic risks. In a recent report, Coinbase described this trend as an “attack of the clones” and cautioned that aggressive fundraising for Bitcoin acquisitions might put pressure on both markets and investor confidence.