Metaplanet’s Bitcoin Treasury Jumps to 18,888 BTC After $93M Buy

Tokyo-listed Metaplanet Inc. has acquired an additional 775 Bitcoin, spending approximately ¥13.733 billion (~$93 million), increasing its total holdings to 18,888 BTC.

The recent tranche was bought at an average price of $120,000 per BTC, bringing the firm's average acquisition cost to $102,000 per coin and total cost basis to $1.94 billion. Despite a weekend dip in Bitcoin prices to around $115,500–$116,000, the company now holds $1.95–$2.18 billion in BTC assets.

This latest addition brings Metaplanet’s year-to-date accumulation to roughly 63 percent of its annual goal. It also significantly over-collateralizes the firm’s financial liabilities:** current BTC holdings exceed its outstanding ¥117 million (~$117 million) in corporate bonds by approximately 18–19 times.

Strategic Shift from Hotels to Bitcoin

Formerly known as Red Planet Japan, the company’s transformation into a Bitcoin-heavy treasury strategy has been dramatic. The pandemic devastated the hospitality business, prompting the pivot. Now, Metaplanet positions itself alongside MicroStrategy as a corporate frontrunner leveraging Bitcoin as a strategic reserve.

Metaplanet’s long-term plan—its so-called “555 Million Plan”—sets an aggressive target: reaching 100,000 BTC by the end of 2026. Achieving this pace would require purchasing nearly 4,900 BTC per month, funded through stock-linked capital raises.

Analysts Weigh In: Rewards and Risks**

Analysts interpret the acquisition as part of a growing trend of corporate Bitcoin treasuries. While it may help hedge against fiat risks and tighten liquidity conditions, it may also increase short-term volatility in Bitcoin markets.

Potential risks extend beyond crypto fluctuations. Price volatility poses the most immediate threat, as significant downturns could strain Metaplanet’s balance sheet. Equity dilution is another concern—especially if Bitcoin and stock performance fail to align with investor expectations.