Metaplanet outspends Bitcoin, adding $61 million to its digital hoard
In a recent development, Metaplanet's stock has experienced a significant selloff, with the market capitalization dropping by 44%. However, it's important to note that the company still boasts a year-to-date growth of 175%, despite the recent drawdown.
The drop in Metaplanet's stock price is likely due to profit-taking among investors and a broader cooldown in Bitcoin treasury stocks. Bitcoin itself has been trading higher over the past week, up roughly 3.8%, with the cryptocurrency briefly climbing above $122,000 before easing to about $118,706 at the time of writing.
Metaplanet's two-phase Bitcoin strategy has been a key factor in its success. The first phase, aggressive Bitcoin accumulation, began in 2024 when the company shifted its focus to Bitcoin adoption. Metaplanet rapidly expanded its Bitcoin reserves throughout 2025, purchasing over 18,000 BTC between May and August at an average price near $120,000 per BTC.
The second phase involves innovative capital-raising and risk management techniques. Metaplanet has supported its accumulation strategy by raising substantial capital and introducing BTC-backed perpetual preferred equity. These financial instruments allow the company to raise funds and attract institutional participation without directly diluting holdings excessively.
This strategy has transformed Metaplanet into a leader of Bitcoin adoption in Asia. Bitcoin-related activities now account for over 91% of total revenue, with the company’s Q2 2025 net income soaring to ¥11.1 billion after losses the previous quarter. The stock price surged roughly 190% year-to-date in 2025, far outperforming major Japanese indices and expanding its shareholder base by 350%, reaching 180,000 investors.
Despite the recent selloff, Metaplanet now holds nearly 3.1% of the circulating Bitcoin supply, underscoring its scale and influence in the market. As Bitcoin continues to eye $135k, Metaplanet's long-term Bitcoin strategy remains a significant factor in its financial performance and market valuation growth.
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