Japan’s Metaplanet Buys 319 BTC, Now Top 10 Bitcoin Treasury

Key Takeaways:

• Metaplanet added 319 Bitcoins, now holds 4,525 BTC with 108.3% YTD yield
• Company purchased latest coins at $83K average price
• BTC price volatility threatens profits despite treasury growth, mirroring Strategy's recent challenges

Metaplanet Inc., a publicly traded Japanese company, recently added 319 BTC to its balance sheet as part of its ongoing treasury management strategy. With this latest Bitcoin acquisition, the company now holds 4,525 BTC, making it the ninth-largest public Bitcoin holder in the world.

Metaplanet BTC Yield Hits 108.3% YTD

In an X post on April 14, Simon Gerovich, CEO of Metaplanet Inc., announced the company's latest Bitcoin acquisition was made at an average price of 11,845,786 yen per BTC (approximately $83,147).

Metaplanet has acquired 319 BTC for ~$26.3 million at ~$82,549 per bitcoin and has achieved BTC Yield of 108.3% YTD 2025. As of 4/14/2025, we hold 4525 $BTC acquired for ~$386.3 million at ~$85,366 per bitcoin. pic.twitter.com/aN0Jz9SgwQ

— Simon Gerovich (@gerovich) April 14, 2025

The company’s total Bitcoin holdings now stand at 4,525 BTC. These coins were acquired at an average price of 12.8 million yen per BTC, giving Metaplanet a Bitcoin portfolio currently valued at approximately 58.1 billion yen.

To evaluate the performance of its Bitcoin acquisition strategy, Metaplanet uses a custom performance metric known as BTC yield. 

Introduced in October 2024, this KPI measures the efficiency and returns of the firm’s Bitcoin buying strategy. 

Between January and March 2025, the company recorded a BTC yield of 95.6%, and in just the first two weeks of April, that figure climbed further to 108.3% YTD. 

BTC yield as a performance indicator didn’t start with Metaplanet. It was originally developed by Strategy (formerly known as MicroStrategy), the largest corporate Bitcoin holder in the world. 

The KPI is meant to give investors a clearer view of how a company funds its Bitcoin purchases, especially when equity or convertible securities are involved. 

Metaplanet has acquired 160 BTC for ~$13.3 million at ~$83,264 per bitcoin and has achieved BTC Yield of 103.3% YTD 2025. As of 4/2/2025, we hold 4206 $BTC acquired for ~$359.8 million at ~$85,544 per bitcoin. pic.twitter.com/ovVaTP8SNo

— Simon Gerovich (@gerovich) April 2, 2025

This latest Bitcoin acquisition follows closely behind Metaplanet’s previous buy of 160 BTC on April 2, with a BTC yield of 103.3%.

Is the Bitcoin Acquisition Strategy Sustainable? 

Metaplanet copies Strategy, the US-based tech company that changed how businesses buy Bitcoin.

Last month, Strategy revealed it had acquired another 22,048 BTC for $1.92 billion. The coins were bought at an average price of $86,969, and at that time, the firm had reached a BTC yield of 11.0% YTD.

$MSTR has acquired 22,048 BTC for ~$1.92 billion at ~$86,969 per bitcoin and has achieved BTC Yield of 11.0% YTD 2025. As of 3/30/2025, @Strategy holds 528,185 $BTC acquired for ~$35.63 billion at ~$67,458 per bitcoin. $STRK $STRF https://t.co/1sfyBIglnt

— Michael Saylor (@saylor) March 31, 2025

Strategy’s total Bitcoin holdings now stand at 528,185 BTC, purchased at an average cost of $67,458, bringing the firm's total investment to over $35.6 billion. 

Yet, even with such scale and experience, Strategy hasn’t been immune to Bitcoin’s volatility.

In a filing to the U.S. Securities and Exchange Commission (SEC) on April 7, Strategy disclosed it made no profits in the first quarter (Q) 2025. 

The main reason was due to the recent sharp decline in BTC price. After hitting an all-time high of $109,114 on January 20, the BTC price fell below $79,000 during the first quarter. 

Though it now hovers around $84,000, this drop was enough to cause substantial unrealized losses.

Strategy reported an expected $5.91 billion in unrealized losses on its Bitcoin holdings for the quarter. 

MicroStrategy, $MSTR, saus unrealized loss on digital assets for 1q $5.91 billion

— unusual_whales (@unusual_whales) April 7, 2025

Metaplanet faces these same risks. While its Bitcoin acquisition strategy demonstrates ambition and forward thinking, it remains exposed to the same price fluctuations that impacted Strategy.