Metaplanet Reaches 35K BTC, Posts 568% BTC Yield in 2025

Key highlights:

• Metaplanet announced purchasing an additional 4,279 BTC in Q4 2025.
• The company’s total holdings has surpassed 35,000 BTC.
• The company’s BTC holdings have increased significantly in 2025 when compared with that in 2024.

Metaplanet Inc., Japan’s top bitcoin treasury company, announced on social media platform X today, December 30, 2025, that it has finished its Q4 2025 Bitcoin buying and has added 4,279 BTC to its holdings. With this purchase, the total holding now comes to 35,102 BTC, bought at an average price of 15,945,691 yen per bitcoin, costing 559.726 billion yen in total.

The latest quarterly purchase cost 69.855 billion yen at an average of 16,325,148 yen per BTC, showing the company’s bold approach during market volatility.

The company is led by Representative Director Simon Gerovich and IR Direct Miki Nakagawa and the company plans to continue its Bitcoin Treasury Operations which began on December 18, 2024.

The company funds these buys through various ways, it could be through capital markets, business income, and tools like BTC options sale, making it a key player in institutional crypto adoption. The company is also well known as ‘Japan’s MicroStrategy.’

BTC Yield Metrics Highlight Accretive Strategy

Metaplanet’s BTC Yield KPI shows the percentage change in Bitcoin per fully diluted share, focusing on growing shareholder value. For Q4 2025 (October 1 to December 30), BTC yield was 11.9%, producing a BTC gain of 3,672 and BTC ¥ gain of ¥50.562 billion, based on the Bitflyer price of ¥13,769,200.

Previous quarters had higher gains, Q4 2024 had 309.8% (which is 1,236 BTC, ¥17.013 billion), Q1 2025 had 95.6% (1,684 BTC, ¥23.194 billion), Q2 2025 had 129.4% (5,237 BTC, ¥72.114 billion) and Q3 2025 had 33.0% (4,412 BTC, ¥60.746 billion).

Year-to-date 2025, BTC Yield is strong 568.2%, which indicates a steady increase in the balance sheet of the company through option premiums and Bitcoin purchases, even when Bitcoin traded below average cost.

As of December 30, Metaplanet holds 35,102 with 1,459,627,925 fully diluted shares (1,142,274,340 common shares plus 23,610,000 from Class B MERCURY convertible preferred stock). This equals 0.0240486 BTC per share.

These figures indicate the 10-for-1 stock split on April 1, 2025, and follow US ATM rules, counting moving strike warrants only after they are exercised.

Capital Raises Fuel Bitcoin Expansion

In Q4, Metaplanet used smart financing moves and it took USD 230 million through Bitcoin-backed loans under a larger USD 500 million program. As of now, this amount is fully in use. The company has also paid back its 19th Series Ordinary Bonds which were worth JPY 3.75 billion on December 29.

Earlier actions, shared in the October 1 update which included capital raising mechanics and accounting rules, included issuing new shares in line with US ATM rules, where moving strike warrants are counted only after they are actually exercised.

It has been observed that Metaplanet’s holdings have increased significantly in 2025. On December 31, 2024, the company held 1,761.98 BTC which were bought for 20.872 billion yen at an average price of 11,846,002 yen per Bitcoin. The holdings by March 31, increased up to 4,046 BTC and costed about 52.368 billion yen.

The growth continued to 13,350 BTC by June 30, with a total cost of 191.332 billion yen. By September 30, holdings increased to 30,823 BTC, highest growth in holdings, valued at 489.870 billion yen at an average price of 15,893,013 yen per Bitcoin.

Key milestones include reaching 10,000 BTC in June using $210 million raised through EVO Fund bonds, crossing 20,000 BTC by September 1, and now reaching 35,102 BTC.

This rapid growth is something that has pushed Metaplanet ahead of companies such as Coinbase in public Bitcoin holder rankings.

Metrics’ Role and Limitations

BTC Gain indicates how much extra Bitcoin the company has added after adjusting for new shares, while BTC ¥ shows its value in yen. These numbers do not include debt, profits or Bitcoin price changes. The company pays no dividends, and owning its shares does not mean owning Bitcoin.

Metaplanet follows MicroStrategy’s strategy, where it uses Bitcoin as a reserve asset as the yen weakens. In 2025, it earned ¥8.58 billion in revenue and plans to keep growing its Bitcoin holdings.

Also Read: Metaplanet Shareholders Approve 5 Key Proposals for BTC Growth