The Tokyo-listed Bitcoin treasury firm is doubling down on its crypto bet with another major purchase.
Summary
- Metaplanet just bought more Bitcoin worth $93 million, pushing its total to 17,132 BTC.
- Globally, Metaplanet has slipped from 5th to 7th among public Bitcoin holders.
- The company’s stock is down nearly 40% from this year’s highs.
- More Japanese firms are adding Bitcoin to their balance sheets.
Metaplanet has added another 780 Bitcoin (BTC) to its growing treasury, according to a new disclosure published on July 28. The latest purchase, worth about $93 million (13.7 billion Japanese yen), pushes the company’s total holdings to 17,132 BTC.
The acquisition marks one of the firm’s largest monthly buys since commencing its Bitcoin-focused treasury strategy. Its total holdings is now valued at about $1.7 billion, with an average acquisition cost now standing at around ¥14.78 million per BTC, or about $99,200.
Metaplanet’s 780 BTC purchase is another step in its run to become a long-term Bitcoin powerhouse, with plans to eventually control 1% of the total supply by acquiring 210,000 BTC by 2027. The move also strengthens its lead as Asia’s largest public Bitcoin holder.
Globally, however, the firm is slipping in rankings. It now sits at 7th place, down from 5th earlier this year, per Bitcointreasuries data, as more rival firms aggressively expand their own BTC reserves.
Metaplanet also published its BTC Yield metric, the percentage change in Bitcoin holdings per fully diluted share, which came in at 22.5% from July 1 to 28. This marks a sharp slowdown from the 129.4% posted in Q2, and comes as the company’s stock faces broader pressure.
Metaplanet’s stock lags
Metaplanet shares have dropped nearly 40% from this year’s high, even as Bitcoin trades near all-time highs. The stock is now hovering around ¥1,150, its lowest since early June. The drop comes despite the value of its holdings climbing to roughly $1.7 billion, a nearly 20% gain based on the average purchase price of its portfolio.
As crypto.news previously reported, the drop is likely tied to factors like valuation and dilution, especially as Metaplanet adjusts its share issuance strategy to fund more Bitcoin buys. Investor profit-taking may also be a factor, with recent surges in the stock’s value likely prompting some to cash out.
The drop in value also mirrors a broader pullback across Bitcoin treasury stocks. Strategy, for instance, is down about 25% from its highs, even as BTC trades near all-time highs. This suggests the trend isn’t isolated to Metaplanet, and a market rebound could open the door for recovery.
Meanwhile, another Japan-based firm is already following in Metaplanet’s footsteps.
BTC grows on Japanese balance sheets
Remixpoint, an energy consulting firm also based in Tokyo, has quietly started building its own Bitcoin reserves, aiming to use exposure as a springboard for its next phase of growth.
The company began buying Bitcoin in late 2024 and is targeting at least 3,000 BTC, depending on price and stock performance. Remixpoint also recently made headlines as the first listed firm in the region to pay its CEO’s salary entirely in Bitcoin, signaling its commitment to the strategy.
So far, Remixpoint has acquired around 1,051 BTC, part of a broader crypto portfolio now worth about $116 million.
