Japanese investment firm Metaplanet has made headlines by surpassing Coinbase in total Bitcoin holdings, now owning 10,000 BTC. This achievement places Metaplanet among the top ten publicly traded companies holding Bitcoin, driven by an aggressive acquisition strategy and institutional-grade financial instruments.
Metaplanet surpasses Coinbase in BTC holdings
On June 16, 2025, Metaplanet announced the acquisition of 1,112 BTC for $117.2 million, lifting its total Bitcoin holdings to 10,000 BTC. This surpasses Coinbase’s 9,267 BTC holdings, as reported by BitcoinTreasuries.com. The purchase was made at an average price of $105,435 per BTC.
The company also revealed plans to issue $210 million in zero-interest bonds, aimed at acquiring more Bitcoin in the future. This bond issuance reflects Metaplanet’s broader goal to hold 210,000 BTC by the end of 2027, a significant 1% of Bitcoin’s total maximum supply.
Market reacts to Metaplanet’s Bitcoin strategy
Metaplanet’s share price jumped by over 20% on the Tokyo Stock Exchange following the announcement. The stock closed at 1,895 yen on June 16, reflecting a year-to-date surge of more than 408%. Investors appear confident in the company’s aggressive Bitcoin strategy as a long-term treasury asset approach.
The firm’s average Bitcoin acquisition cost now stands at $94,697 per BTC, with a total cumulative investment nearing $947 million.
Bitcoin yield performance signals growth potential
Metaplanet’s Bitcoin yield—a proprietary metric tracking the growth in BTC relative to fully diluted shares—has shown impressive performance. The company recorded:
- 41.7% in Q3 2024
- 309.8% in Q4 2024
- 95.6% in Q1 2025
- 87.2% in Q2 2025 (up to June 16)
This performance reinforces investor confidence in Metaplanet’s ability to scale BTC exposure while maintaining a healthy stock position.
Zero-interest bonds reshape crypto financing
The firm’s $210 million zero-interest bond issuance to EVO Fund illustrates how traditional finance tools are being reimagined for crypto adoption. By avoiding immediate interest expenses, Metaplanet optimizes its capital structure while building its Bitcoin reserves.
This innovative financing mirrors similar moves by other crypto-forward firms like MARA Holdings, which recently raised $850 million through zero-coupon convertible notes. These instruments indicate a broader market belief in Bitcoin’s long-term value and the growing appeal of BTC-backed corporate strategies.
Japan’s growing corporate Bitcoin adoption
Metaplanet’s rise also reflects a broader trend in Japan, where companies are increasingly turning to Bitcoin as a hedge against economic uncertainty. With a weakening yen and rising national debt, Japanese firms see Bitcoin as a reliable treasury reserve alternative.
Metaplanet’s growth from a share price of 19 yen in April to 1,895 yen in June shows how investors in Japan are rewarding crypto-integrated business models. The company now stands as Asia’s largest corporate Bitcoin holder, mirroring MicroStrategy’s leadership in the West.
What has happened so far
- April 2024: Metaplanet begins BTC accumulation strategy
- June 2024: Surpasses El Salvador’s national BTC reserves
- November 2024: Buys 1,004 BTC worth $104.3M
- March 2025: Acquires 1,088 BTC at a total value of $930M
- June 2025: Surpasses Coinbase by reaching 10,000 BTC
- June 2025: Issues $210M zero-interest bonds to expand Bitcoin holdings
Metaplanet’s continuous bond issuances and BTC purchases have positioned it as a key player in the global crypto treasury ecosystem. The company’s roadmap toward holding 210,000 BTC by 2027 signals an even more aggressive accumulation phase ahead.
Conclusion
Metaplanet’s Bitcoin holdings reaching 10,000 BTC is a key moment in corporate crypto adoption. With an aggressive treasury strategy, innovative financing tools like zero-interest bonds, and strong investor support, the Japanese firm is setting a precedent for how traditional companies can integrate Bitcoin at scale. As it eyes 210,000 BTC by 2027, all eyes will be on how Metaplanet reshapes the global Bitcoin ownership landscape.
