Metaplanet buys 5,419 BTC, lifting reserves to 25,555 BTC worth $2.7B. The company has funded the BTC purchases through $1B+ share sales and equity offerings. Metaplanet targets 210,000 BTC by 2027, cementing role as Asia’s largest holder.

Metaplanet has once again expanded its Bitcoin (BTC) holdings, purchasing 5,419 BTC in a move worth more than $627 million.

The acquisition, disclosed on September 22, lifts the Tokyo-listed company’s reserves to 25,555 BTC, valued at over $2.7 billion.

With this purchase, the firm has re-entered the top five corporate Bitcoin holders, surpassing rivals such as Tesla and Coinbase, and has firmly established itself as Asia’s largest public holder of the digital asset.

Notably, the latest acquisition is the biggest single purchase in Metaplanet’s history. The company paid an average of roughly $115,900 per BTC, spending nearly 94 billion yen in total.

The acquisition has increased its cumulative Bitcoin investments to 398.21 billion yen, or about $2.67 billion, with an average purchase price of just over $104,000 per BTC.

The Chief Executive, Simon Gerovich, noted that the company’s Bitcoin Yield has surged to 395.1% year-to-date in 2025.

The rapid pace of accumulation underscores just how aggressive Metaplanet has become in executing what it describes as its “Bitcoin-first” strategy.

In mid-April this year, the firm held just 4,525 BTC. By June, it had already reached 10,000 BTC, months ahead of schedule. From 13,350 BTC at the end of June, Metaplanet has nearly doubled its reserves in less than three months.

Metaplanet’s transformation has been dramatic. Once engaged in hospitality and media, the company has reinvented itself as a corporate Bitcoin treasury under Gerovich’s leadership.

The company now positions itself as a regional counterpart to Michael Saylor’s Strategy, whose 638,985 BTC holdings dominate the corporate Bitcoin landscape.

The strategy is ambitious. Metaplanet’s immediate target is 10,000 BTC by the end of 2025. By 2026, it aims to hold 100,000 BTC, before scaling to 210,000 BTC by 2027 — roughly 1% of Bitcoin’s fixed supply.

To fund these moves, the firm has leaned heavily on capital markets. Earlier this month, it completed an international share sale that raised more than $1 billion, while in September alone, it issued 385 million new shares to raise $1.4 billion.

Most of the proceeds are earmarked for Bitcoin purchases, linking investor funds directly to its treasury expansion.

Despite the bold progress, Metaplanet’s share price dropped 1.64% on the day of the announcement, extending a 28% decline over the past month.

Even so, the stock remains up more than 66% year-to-date, reflecting ongoing investor interest in its role as a proxy for Bitcoin exposure.

The firm’s upgrade to mid-cap status by FTSE Russell this September has also strengthened its visibility, bringing passive inflows from global index funds.

The broader market reaction was muted, with Bitcoin (BTC) itself slipping below $115,000 around the same time, dragged lower by technical resistance, whale activity, and regulatory headlines.

Nevertheless, Metaplanet’s willingness to buy during periods of weakness underscores its conviction that Bitcoin is a long-term store of value rather than a short-term trade.

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