- Metaplanet hits 5,000 BTC with ¥64.1B invested, boosting treasury strength.
- BTC Yield hits 121.1% YTD, showing gains despite dilution from new shares.
- Strategic bond and stock issues fund consistent BTC buys since May 2024.
Metaplanet Inc., a Tokyo-listed hospitality company, has reached a significant milestone in its Bitcoin treasury strategy, accumulating 5,000 BTC as of April 24, 2025. The firm has spent approximately ¥64.1 billion ($428.1 million) on the asset, with an average acquisition price of ¥12,818,168 per Bitcoin.
Record Yield and Expanding Bitcoin Reserves
The company recently purchased 145 BTC for around $13.6 million at an average price of $93,327 per coin, increasing its year-to-date BTC Yield to 121.1%. “As of 4/24/2025, we hold 5,000 BTC acquired for ~$428.1 million at ~$85,621 per bitcoin,” Simon Gerovich stated in an update posted online.
BTC Yield is Metaplanet’s proprietary metric that tracks bitcoin performance against diluted share count, emphasizing asset growth despite share issuance. This method has shown consistent growth, with quarterly yields hitting 309.8% in Q4 2024 and 95.6% in Q1 2025.
Treasury Framework and Strategic Objectives
Metaplanet has issued multiple bond series and share rights, including its 14th to 18th tranches, raising over ¥35 billion in capital since January 2025. These funds have been directly allocated to Bitcoin purchases, pushing the company’s BTC holdings from 398 BTC in September 2024 to 5,000 BTC by late April 2025.
In its latest update, Metaplanet detailed how its treasury strategy prioritizes Bitcoin accumulation using capital raised through stock issuance and bond funding. According to the report, the firm mitigates dilution risk while optimizing asset acquisition through financial tools like zero-coupon bonds and structured stock rights.
Execution Timeline and Asset Valuation Metrics
From its initial holdings of 117 BTC in May 2024, Metaplanet’s treasury has expanded rapidly, executing strategic purchases in near-monthly intervals. Each entry records purchase volume, cost basis, and price per BTC, with custody of assets aligned to end-of-period BTC/JPY reference rates from Bitflyer.
As of April 24, fully diluted shares stood at 628.4 million, bringing BTC per 1,000 shares to 0.0079565. BTC Gain for Q2 to date totaled 527 BTC, equivalent to ¥6.999 billion, with performance benchmarks tied to treasury growth, not market speculation.
