Japan’s Metaplanet buys 103 bitcoins for $11.7m

Metaplanet, a Japanese firm focused on bitcoin reserves, has bought an additional 103 bitcoins for about US$11.7 million.

The company now holds 18,991 bitcoins, with an average purchase price of US$102,712 per bitcoin, according to Metaplanet president Simon Gerovich.

Gerovich also announced that Metaplanet was added to the FTSE Japan Index as a mid-cap stock in the index provider’s September review, after being upgraded from small-cap status.

Metaplanet’s share price rose 3.5% around midday on August 25, 2025 in Japan but has dropped 26.9% over the past month, while remaining up 147.9% for the year.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Metaplanet’s bitcoin strategy reveals the scale gap among corporate holders

While Metaplanet ranks seventh globally among public corporate bitcoin holders, the numbers show massive concentration among the top players1.

With 18,991 BTC, Metaplanet holds significantly less than market leaders like MicroStrategy, which owns approximately 597,325 BTC according to recent data2.

This means MicroStrategy holds over 31 times more bitcoin than Metaplanet, despite both companies pursuing similar bitcoin treasury strategies.

The gap illustrates how corporate bitcoin adoption remains concentrated among a small number of major players, with companies like Tesla holding 10,700 BTC and Block owning 8,584 BTC3.

Even at seventh place globally, Metaplanet’s $1.95 billion investment represents a fraction of the over $103 billion that public companies collectively hold in bitcoin4.

2️⃣ Index inclusion signals mainstream acceptance of bitcoin treasury companies

Metaplanet’s upgrade to mid-cap status and inclusion in the FTSE Japan Index represents a significant milestone for bitcoin-focused companies seeking institutional recognition1.

This development parallels how traditional companies gain legitimacy through index inclusion, as seen with ESG-focused indices like the FTSE Blossom Japan Index used by Japan’s Government Pension Investment Fund5.

The move from small-cap to mid-cap classification suggests that Metaplanet’s bitcoin strategy has driven meaningful market capitalization growth, reflected in its 147.9% year-to-date stock performance1.