- Metaplanet bought 696 BTC for ¥10.15 billion ($67.9 million) via options.
- The total Bitcoin holdings now stand at 4,046 BTC, worth $340 million.
Metaplanet Inc., a Japanese investment firm, has acquired an additional 696 BTC through cash-secured put options. This purchase brings its total Bitcoin holdings to 4,046 BTC, worth approximately $340 million. The company has been aggressively expanding its Bitcoin treasury since adopting a BTC-focused strategy in April 2024.
Metaplanet executed the purchase at an average price of ¥14,586,230 ($97,512) per BTC. The total expenditure for this acquisition reached ¥10.15 billion ($67.9 million). By utilizing options instead of direct market purchases, the company reduced its effective cost per Bitcoin to ¥13,479,404 ($90,073).
The firm’s Bitcoin Income Generation business earned ¥770.35 million ($5.2 million) in Q1 2025. This revenue came from selling cash-secured Bitcoin put options, allowing the company to collect premiums while setting aside funds for future acquisitions. The company deployed ¥9.39 billion ($62.7 million) as collateral, securing more BTC than it could have via direct purchases.
Metaplanet’s Bitcoin Yield Performance
Metaplanet reported a BTC Yield of 309.8% in Q4 2024 and 95.6% in Q1 2025. BTC Yield measures how effectively the company’s acquisition strategy benefits shareholders while accounting for dilution.
Over the past nine months, Metaplanet has increased its Bitcoin holdings nearly 28-fold. It held just 141.07 BTC in June 2024 but has now reached 4,046 BTC. The company aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by 2026.
Stock Performance and Market Context
Metaplanet’s stock price experienced a 9% drop due to market turmoil but rebounded 2% to 409 JPY ($2.73). Over the past year, the stock has surged over 1,950%, peaking at 665 JPY in February.
Last week, the company market bought 150 BTC ($12.6 million) at an average price of $83,801 per Bitcoin. It also issued ¥2 billion ($13.3 million) in zero-interest bonds to finance further Bitcoin acquisitions.
Metaplanet now ranks among the top corporate Bitcoin holders, alongside firms like MicroStrategy and Tesla. The company remains committed to its Bitcoin-first strategy, reinforcing its position as a leader in Japan’s Bitcoin adoption efforts.
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