Japanese investment firm Metaplanet has made its second-largest single Bitcoin purchase ever, acquiring 1,004 Bitcoin for approximately 15.2 billion yen ($104.6 million) as the cryptocurrency came within 3% of its all-time high.
The May 19 purchase brings Metaplanet’s total holdings to 7,800 Bitcoin, worth around $807 million at current market prices. This latest acquisition follows the company’s largest-ever purchase of 1,241 BTC for $129 million on May 12, which pushed its Bitcoin holdings above those of El Salvador.
JUST IN: ?? Metaplanet bought another 1,004 #Bitcoin for ¥15 billion. pic.twitter.com/lH88USthZ7
— Bitcoin Magazine (@BitcoinMagazine) May 19, 2025
Market Position and Performance
Metaplanet now holds the largest Bitcoin reserves of any public company in Asia and ranks tenth among public firms globally in terms of Bitcoin holdings, according to BiTBO data. The firm reported impressive BTC yields, with a first-quarter yield of 95.6% and a current second-quarter yield of 47.8%, which measures the ratio of percentage change in Bitcoin holdings per fully diluted share.
If Metaplanet acquires an additional 301 BTC, it would surpass Galaxy Digital Holdings, which currently occupies the ninth position globally with holdings of 8,100 Bitcoin.
The company’s stock reacted positively to the news, jumping 15% to 712 JPY on the Tokyo Stock Exchange, extending its monthly gains to more than 100%. The stock rally coincided with Metaplanet’s announcement of record Q1 2025 revenue of 877 million Japanese yen ($6 million).
Aggressive Accumulation Strategy
Metaplanet has significantly accelerated its Bitcoin acquisition pace in recent months. The firm has purchased 2,800 BTC in May alone, following four purchases totaling 794 BTC in April and six purchases amounting to 1,655 BTC in March.
Since January 1, 2025, Metaplanet has increased its Bitcoin holdings by 4.4 times, adding 6,038 BTC to reach its current total of 7,800 BTC. With this latest purchase, the company has achieved approximately 78% of its short-term goal of holding 10,000 BTC, with an average cost basis of ¥712.5 million ($91,343) per Bitcoin.
According to CEO Simon Gerovich, the company’s total Bitcoin holdings were acquired for about $712.5 million at an average price of $91,343 per Bitcoin. Based on current market prices, the total value of these holdings is approximately $806 million.
Metaplanet has acquired 1004 BTC for ~$104.3 million at ~$103,873 per bitcoin and has achieved BTC Yield of 189.1% YTD 2025. As of 5/19/2025, we hold 7800 $BTC acquired for ~$712.5 million at ~$91,343 per bitcoin. $MTPLF pic.twitter.com/w4tqZA2QPK
— Simon Gerovich (@gerovich) May 19, 2025
Financing the Purchases
Metaplanet has been funding its Bitcoin purchases through multiple bond issuances. Most recently, the company announced a $15 million offering last week, which marks its 15th sale of ordinary bonds.
*Metaplanet Issues 15 Million USD in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/dBQYwJGOfy
— Metaplanet Inc. (@Metaplanet_JP) May 13, 2025
Comparison to Strategy
Michael Saylor’s Strategy remains the clear leader in corporate Bitcoin holdings with 568,840 Bitcoin worth approximately $59 billion.
In a comparative analysis, Blockstream CEO Adam Back noted that “Metaplanet is growing 3.8 times faster than MicroStrategy in terms of mNAV coverage,” potentially making the Japanese firm’s stock more attractive to investors than MSTR.
According to data from Bitcointreasuries.net, Metaplanet is now the largest publicly listed corporate Bitcoin holder in Asia and ranks 11th globally.
Broader Market Context
On May 12, research from Bitcoin investment firm River revealed that corporations and businesses are currently the largest net buyers of Bitcoin so far this year, outpacing exchange-traded funds, governments, and even retail investors.
This latest purchase comes as Bitcoin continues to trade around $103,500, having faced rejection at the $105,000 level, crossing which would open the path to new all-time highs.
The continued corporate accumulation of Bitcoin, led by firms like Metaplanet and Strategy, highlights growing institutional confidence in the cryptocurrency as both an investment asset and treasury reserve strategy, even as the asset trades near its historical peak.
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