This post was originally published on this site.
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Michael Willson -
December 22, 2025
Japanese investment firm Metaplanet has expanded its Bitcoin treasury to 20,000 BTC, making it the largest holder in Japan and the sixth-largest public holder worldwide. The company funded the move by issuing 11.5 million new shares, raising around $65.7 million through exercised stock warrants.
This aggressive strategy cements Metaplanet’s identity as “Asia’s MicroStrategy,” with bold ambitions to grow its treasury to 210,000 BTC by 2027. For investors and businesses trying to keep pace with this kind of pivot, the right knowledge matters. A crypto certification can give you the foundation to understand corporate treasury strategies like this.
The 1,009 BTC Purchase
Metaplanet’s most recent acquisition added 1,009 BTC to its balance sheet. The company spent ¥16.479 billion (≈ $112 million) at an average price of about $102,607 per BTC.
The deal boosted its total holdings to 20,000 BTC, worth roughly $2 billion at current market prices. This puts Metaplanet ahead of most global corporates in terms of Bitcoin exposure, solidifying its position as Japan’s largest BTC holder.
Funding Through Share Issuance
To finance the purchase, Metaplanet issued 11.5 million shares after investor Evo Fund exercised stock warrants. Evo bought 10 million shares at $5.67 and 1.5 million at just under $6, raising about $65.7 million for the company.
Some of the proceeds went toward redeeming ¥6 billion (~$45 million) in previously issued bonds, easing financial pressure while still leaving room for Bitcoin accumulation.
Metaplanet’s Bitcoin Pivot Timeline
Mid-2023
- Metaplanet pivots from hospitality to Bitcoin investment strategy, positioning itself as a crypto-first treasury company.
Early 2024
- Begins steady BTC accumulation, attracting comparisons to MicroStrategy’s aggressive approach.
Mid-2025
- Stock price surges over 345% on news of continued Bitcoin purchases and plans to expand holdings dramatically.
September 2025
- Acquires 1,009 BTC for $112M, pushing total treasury to 20,000 BTC.
- Issues 11.5M new shares to raise $65.7M, partially used to redeem bonds.
- Market cap volatility kicks in—share price down 54% since June despite overall treasury growth.
2027 Goal
- Plans to scale holdings to 210,000 BTC, nearly 1% of Bitcoin’s total supply, valued at an estimated $22B.
This timeline shows how Metaplanet has transformed from a struggling hotel operator into one of the world’s boldest Bitcoin treasuries.
Strategic Vision: 210,000 BTC by 2027
Metaplanet’s ambitions go far beyond its current holdings. The company aims to scale its Bitcoin treasury to 210,000 BTC within two years. At that level, it would control nearly 1% of Bitcoin’s total supply, valued at about $22 billion at current prices.
The strategy relies on using Bitcoin as collateral to raise funds for other business lines. In effect, Metaplanet is betting that BTC will not only appreciate but also function as a productive financial asset.
Market Pressures and Risks
Despite these bold moves, Metaplanet faces significant headwinds. Its stock price has fallen 54% since mid-June, making future equity-based fundraising more difficult. Issuing shares to raise capital has diluted existing holders, and if share prices remain depressed, it could constrain future treasury growth.
Still, the company has enjoyed dramatic long-term gains—its share price is up over 345% in 2025 overall, proof that markets continue to reward its pivot despite short-term volatility.
Governance and Branding Moves
Metaplanet has leaned on more than financial engineering to attract attention. Shareholder meetings have featured food trucks, costumes, and even K-pop performances, signalling a willingness to blend corporate governance with spectacle.
At the same time, Eric Trump has taken on an advisory role, giving Metaplanet global visibility and linking it to broader narratives around Bitcoin adoption in politics and finance.
Why This Matters Beyond Japan
Metaplanet’s rise matters for two reasons:
- Corporate treasuries are going global — Bitcoin adoption is no longer limited to U.S. companies like MicroStrategy. Japan now has its own corporate whale.
- Treasury strategies are diversifying — using share issuance and bonds to finance Bitcoin accumulation shows how creative corporates are becoming in leveraging traditional markets to acquire digital assets.
What Investors Can Learn
Metaplanet’s story offers lessons for both retail and institutional investors:
- Leverage is powerful but risky: issuing shares to buy BTC can supercharge holdings but also dilutes shareholders.
- Long-term conviction matters: despite volatility, the company’s clear vision of 210,000 BTC gives investors a roadmap.
- Narrative plays a role: theatrical shareholder meetings and high-profile advisors show how branding supports market strategy.
For investors looking to build data-driven strategies, a Data Science Certification can sharpen your ability to track flows, treasury activity, and market trends. If your aim is to guide businesses through strategic pivots like Metaplanet’s, a Marketing and Business Certification will help you connect crypto adoption with organisational growth.
Outlook
Metaplanet’s success hinges on three variables:
- Bitcoin price performance — higher prices amplify its balance sheet; declines could expose financial fragility.
- Shareholder tolerance for dilution — repeated issuances may spark backlash.
- Execution of the 210,000 BTC plan — reaching 1% of total supply would mark one of the most ambitious treasury strategies in crypto history.
If it succeeds, Metaplanet could become a global symbol of how corporates use Bitcoin as both store of value and financial collateral.
Conclusion
Metaplanet’s journey from hotel operator to Bitcoin treasury powerhouse has been nothing short of dramatic. With 20,000 BTC in reserve and plans to reach 210,000 BTC by 2027, the company is reshaping what corporate Bitcoin adoption looks like.
By issuing 11.5 million shares to fund its latest purchases, it is taking bold risks to pursue bold goals. For investors, Metaplanet is both a case study in conviction and a warning about the challenges of aggressive treasury strategies.