Metaplanet acquires 463 bitcoins, total holdings hit $1.8b

Japanese firm Metaplanet has purchased 463 more bitcoins for US$53.7 million, according to a company disclosure on August 4, 2025.

Metaplanet, which manages bitcoin holdings as a treasury strategy, said it bought the bitcoins at an average price of US$115,895 per coin.

The company now holds 17,595 bitcoins, with a total acquisition cost of about US$1.78 billion and an average price of US$101,422 per bitcoin, based on statements from CEO Simon Gerovich.

This latest purchase comes after Metaplanet filed plans on A to raise up to 555 billion yen (US$3.7 billion) by issuing new perpetual preferred shares.

The company said the capital raise is intended to support further bitcoin acquisitions.

According to data from Bitcointreasuries, Metaplanet now ranks seventh globally among public companies by bitcoin holdings, behind firms including Strategy, MARA, XXI, Bitcoin Standard Treasury Company, Riot, and Trump Media.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Bitcoin treasury companies use traditional finance tools to outperform bitcoin itself

Metaplanet’s strategy reflects a financial model where companies leverage capital markets to accumulate more bitcoin per share rather than simply holding the cryptocurrency.

These “bitcoin treasury companies” focus on increasing their Bitcoin-per-share (BPS) ratio, aiming for a growing “BTC yield” that can outperform bitcoin’s price appreciation 1.

Companies like MicroStrategy have pioneered this approach, regularly issuing shares to fund bitcoin purchases and extracting premiums when their market cap exceeds the value of their bitcoin holdings 1.

This model allows treasury companies to use leverage by issuing debt at lower interest rates than bitcoin’s expected growth rate, effectively amplifying their bitcoin accumulation 1.

Public bitcoin treasury companies collectively hold over 791,662 BTC, representing about 3.98% of the circulating supply, demonstrating the significant market impact of this strategy 2.

2️⃣ Perpetual preferred shares offer companies flexible capital without selling bitcoin

Metaplanet’s plan to raise $3.7 billion through perpetual preferred shares follows a funding model that allows companies to maintain their bitcoin holdings while accessing capital markets.