Bitcoin Crosses the $96,000 Mark for the First Time Since February

May 7, 2025 — Tokyo-listed Metaplanet disclosed on Monday that it has acquired an additional 555 BTC for roughly $53.4 million at an average price of $96,134.

The company’s latest purchase brings its total BTC holdings to 5,555, valued at over $536 million at press time.

The firm’s internal performance metric, dubbed “BTC Yield,” soared 309.8% in the fourth quarter of 2024, 95.6% in the first quarter of 25, and a notable 21% already in the ongoing second quarter.

The company’s performance in 2024 is attributed to its strategic investments in BTC and its subsidiary, Evo Fund, which has been actively deploying capital in promising Web3 projects.

The company’s shares (ticker: 7155) closed Monday’s trading on the Tokyo Stock Exchange at 1,248 yen, up 1.8%.

As BTC trades just below $97,000 at press time, Metaplanet is already in profit on its most recent buy.

The company issued $25 million in zero-coupon bonds to fund its purchases, its latest in a series of such instruments. Since the beginning of 2024, The company has raised over $244 million through zero-coupon bonds and equity-related financing in partnership with Evo Fund.

The company is now making plans for a U.S.-based subsidiary, named Metaplanet Treasury and headquartered in Florida, to raise up to $250 million to back its Bitcoin strategy and tap into American capital markets.

The firm’s goal is to accumulate 10,000 BTC by the end of 25 and eventually hit 21,000 BTC.

The company’s BTC buying spree began earlier this year with the purchase of 1,000 BTC, following which it unveiled plans to create a subsidiary that would invest in promising blockchain projects and issue tokens to fund the company’s operations.

At the time, the company said it was aiming to raise $100 million through the token offering.

In March, the company announced the issuance of $100 million in zero-coupon bonds to continue its Bitcoin buying strategy. The bonds will mature in February 2025, and holders of the bonds will receive the principal amount plus any interest earned during the period.

In April, it announced plans to issue $150 million in zero-coupon bonds and carry out a third-party capital increase to raise up to $98 million.

The company also said it was planning to apply for a U.S. subsidiary to be able to access the American capital markets.

The company’s shares have soared more than 3,000% since the beginning of 2024, and its performance has been closely followed by investors.

As of Monday, the company’s shares are up 1,000% for the year and 3,098% since the beginning of 2024.

The company’s strong performance comes amid a broader rally in cryptocurrency prices. Bitcoin, the world’s largest cryptocurrency, has risen sharply in recent months, and its price is now trading above $96,000.

The rally in Bitcoin prices has been driven by a number of factors, including the increasing adoption of cryptocurrency by institutions, the launch of several Bitcoin futures ETFs, and the growing demand for decentralized finance (DeFi) products and services.

The company’s subsidiary, Evo Fund, has been actively deploying capital in promising Web3 projects and making promising returns on its investments, which in turn are flowing back to the company’s main entity as it pivots its strategy to focus on Bitcoin.

The company’s performance is also a testament to its ability to adapt to the changing market conditions. As the cryptocurrency industry continues to evolve, it is likely that we will see more companies like Metaplent emerge and innovate in the space.