Metaplanet shares rise after another Bitcoin purchase
Metaplanet buys 1,004 more BTC, hits 7,800 total as stock jumps 15%
Metaplanet, dubbed “Japan’s MicroStrategy,” has acquired another 1,004 bitcoin for $104 million, pushing its total holdings to 7,800 BTC.
Following the announcement, its stock price jumped 15% to ¥712 on the Tokyo Stock Exchange, capping off a more than 100% gain in May, reports CoinGape.
The rally came just one day after the firm reported record Q1 revenue of ¥877 million ($6 million), underscoring the market’s approval of its aggressive crypto strategy.
This latest BTC purchase puts Metaplanet at 78% of its short-term target to hold 10,000 BTC. The average cost basis now stands at ¥712.5 million (roughly $91,343) per bitcoin. CEO Simon Gerovich noted that the firm remains committed to further acquisitions as long as macro conditions favor Bitcoin over traditional assets.
Outpacing MicroStrategy in mNAV growth
Metaplanet has ramped up its BTC exposure by 4.4x since the beginning of 2025, adding over 6,000 coins through a flexible moving-strike warrant program. Analysts have praised the equity issuance structure, which avoids setting fixed discounts or prices, allowing the company to scale without excessive dilution. This structure, combined with a BTC yield of 189.1% YTD, has made Metaplanet a standout in the digital asset investment space.
Blockstream CEO Adam Back recently highlighted Metaplanet’s rapid pace of growth, noting the firm is expanding 3.8 times faster than MicroStrategy in terms of modified net asset value (mNAV) coverage. This metric is gaining traction among investors who compare equity-to-BTC leverage across publicly listed crypto-heavy firms.
BTC price hovers as global markets react to Moody’s cut
The announcement came as Bitcoin trades around $103,500, struggling to break through key resistance at $105,000. A weekly close above that level could pave the way for new all-time highs. Broader financial markets, however, remain tense following Moody’s downgrade of the U.S. credit rating, which has pressured the S&P 500 and sent investors flocking to alternative assets like BTC and gold.
For Metaplanet, the macro volatility may serve as an opportunity. With equity markets shaky and the yen underperforming, its BTC-heavy balance sheet may appeal to local and global investors seeking exposure to digital assets in a regulated, publicly traded vehicle.
Recently we wrote that JPMorgan analysts say the traditional “debasement trade,” where investors hedge against fiat currency debasement by holding gold and bitcoin, has shifted into a zero-sum dynamic.
