Metaplanet Inc., Japan's leading Bitcoin treasury company, surged to a new all-time high in market capitalization this week
Metaplanet Inc., Japan’s leading Bitcoin treasury company, has soared to a new all-time high in market capitalization this week, propelled by Bitcoin’s own historic ATH.
The firm, which has aggressively acquired BTC throughout the year, reached a valuation of ¥470.3 billion (about $3.24 billion) by May 19, marking a 554.5% increase year-to-date. This follows Bitcoin’s surge past its new ATH of $109,500 today.
In just over a year, Metaplanet expanded its holdings from 98 BTC to 7,800 BTC, acquired at an average price of $103,873 per coin. That stash is now worth over $800 million, highlighting the impact of Bitcoin’s record-breaking run this year.
The latest rise followed the company’s announcement of completing the full exercise of its 13th to 17th series of stock acquisition rights under its innovative “21 Million Plan.” This equity financing campaign raised ¥93.3 billion (around $643 million) in just 60 trading days, fueling additional Bitcoin purchases, without diluting shareholder value. In a rare move, these MS Warrants were issued at a 6.8% premium over the share price at the time.
Since announcing its listing on the OTCQX Market, Metaplanet’s growth has been relentless. “We are thrilled to begin trading on the OTCQX Market, enabling greater access for U.S. investors to participate in Metaplanet’s journey,” said the President of Metaplanet Simon Gerovich. “As Asia’s only dedicated Bitcoin Treasury Company, this step reflects our commitment to advancing Bitcoin adoption globally while enhancing shareholder value.”
Metaplanet’s growth is more than just a case of good timing; it reflects a strong, deliberate alignment with Bitcoin’s price action. Since shifting to a Bitcoin-focused strategy in 2024, the company has posted impressive quarterly BTC yields of 41.7%, 309.8%, 95.6%, and 47.8%. These returns have helped drive its net asset value up by 103.1 times and its market capitalization by 138.1 times, following Bitcoin’s rapid climb.
In Q1 FY2025, Metaplanet reported its strongest financial results yet. Revenue increased 8% quarter-over-quarter to ¥877 million, while operating profit rose 11% to ¥593 million. Net income surged to ¥5.0 billion, complemented by unrealized gains of ¥13.5 billion from its Bitcoin holdings, further strengthening the company’s balance sheet.
Although Bitcoin prices dipped briefly at the end of March, causing a ¥7.4 billion valuation loss, Metaplanet swiftly recovered as BTC surged to new record levels. This strong connection with Bitcoin’s performance has led many investors to use Metaplanet as an investment vehicle to get Bitcoin exposure on the Tokyo Stock Exchange.
