Metaplanet Becomes 5th-Largest Corporate Reserve After $238M Acquisition

Metaplanet acquired 2,205 BTC at an average cost of $108,237 per coin, bringing its cumulative holdings to 15,555 BTC worth about $1.69 billion at current prices. The acquisition surpasses Coinbase and CleanSpark in global rankings.

The Tokyo Stock Exchange-listed investment firm spent roughly $238.7 million on the purchase, disclosed through its official social channels and filings. The acquisition aligns with Metaplanet's 2025 target to accumulate Bitcoin as a treasury asset, leveraging bond issuances and stock-rights exercises to fund its strategy.

The firm issued zero-interest ordinary bonds through its EVO fund and raised capital via equity rights exercises, creating what it calls a “liquidity flywheel” to finance rapid BTC acquisitions. The bond issuance strategy involved ¥30 billion ($208 million) in zero-coupon bonds maturing in December 2025.

Metaplanet's average purchase price of $99,307 across all 15,555 BTC reflects strategic timing in the $95,000–$110,000 range, generating a 416.6% BTC yield year-to-date. Its total investment in Bitcoin now exceeds $1.54 billion.

As of this latest purchase, Metaplanet trails only Michael Saylor’s Strategy, Marathon Digital, Twenty One Coin, and Riot Platforms in disclosed corporate Bitcoin reserves. The company launched its accumulation strategy in 2024, inspired by industry pioneers.

The firm hit 13,350 BTC in June after buying 1,005 coins for $108 million, funded by $208 million in bonds. Metaplanet aims to hold 30,000 BTC by year-end 2025 and 210,000 BTC by 2027, targeting status as one of the largest non-U.S. corporate holders.

Related: Public Companies Lead Bitcoin Purchases Over ETFs in Q2 2025