Bitcoin News Today: Metaplanet’s Bitcoin Gamble: Can 100,000 BTC Deliver the Future?

Tokyo-listed Metaplanet Inc. has further bolstered its Bitcoin (BTC) treasury with the purchase of an additional 136 BTC, raising its total holdings to 20,136 BTC, valued at over $2.08 billion as of September 8, 2025 [1]. The latest acquisition was made at an average price of approximately $111,666 per BTC, lifting the company’s total investment in Bitcoin to over $2 billion [2]. The move reflects Metaplanet’s aggressive strategy to expand its digital asset portfolio, with a revised target of holding 100,000 BTC by 2026 [5].

The firm’s acquisition activity has accelerated significantly in recent months, with purchases totaling more than 8,000 BTC since late June 2025. For example, a single transaction on September 1, 2025, brought Metaplanet’s holdings past the 20,000 BTC threshold by acquiring 1,009 BTC [2]. The company’s average cost per BTC stands at $103,196, which is notably lower than the current market price of $112,014 [3]. This cost differential could enhance potential returns if Bitcoin continues its upward trajectory.

Metaplanet measures the performance of its Bitcoin holdings using a unique metric known as BTC yield, which calculates the growth of Bitcoin held per fully diluted share. As of the end of Q2 2025, the firm’s BTC yield stood at 129.4%, while the metric grew by 30.8% during the first half of Q3 [1]. This performance is attributed to both Bitcoin’s price appreciation and the company’s continuous accumulation of BTC. The BTC yield metric is distinct from traditional yield measures, as it reflects the growth of the asset rather than income from it [2].

Despite these gains, the company’s stock has faced headwinds. Shares of Metaplanet have fallen more than 30% over the past month, with a year-to-date decline of nearly 65% from their 2025 peak [5]. Analysts attribute this decline to two factors: a modest pullback in Bitcoin’s price and a narrowing of the mNAV (market cap versus Bitcoin holdings premium) [1]. The stock’s recent performance has been exacerbated by bearish technical indicators, including a death cross pattern and a broken critical support level [5].

Metaplanet ranks sixth among publicly traded companies in Bitcoin holdings, trailing behind the top holders such as Strategy, which holds 638,460 BTC [3]. The firm’s long-term goal of acquiring 100,000 BTC by 2026 remains ambitious, particularly considering the scale of its current holdings. As of September 8, it had achieved 67% of its 2025 target of 30,000 BTC and 20% of its 2026 goal [5]. The company recently secured shareholder approval for an $884 million capital raise, a move seen as a confidence-building step to fund further Bitcoin acquisitions while maintaining a conservative balance sheet [5].

The company’s strategy is drawing attention from both supporters and critics. Proponents highlight Metaplanet’s disciplined accumulation of Bitcoin at a historically strong price, while skeptics warn of the risks posed by high exposure to a volatile asset. Independent director Pranav Agarwal noted that Metaplanet’s strong Bitcoin net asset value and low leverage make it resilient to potential forced liquidation scenarios [5]. Meanwhile, some analysts, including Thomas Fecker-Boxler of the Web3 Foundation, caution that long-term sustainability depends on more than just Bitcoin’s price movements [5].

Source:

[1] Metaplanet Brings Bitcoin Holdings to More Than 20K With Latest Purchase (https://finance.yahoo.com/news/metaplanet-brings-bitcoin-holdings-more-124707704.html)

[2] Analytics - Metaplanet - Bitcoin Treasury Company (https://metaplanet.jp/en/analytics)

[3] Metaplanet Grows Bitcoin Treasury With Additional 136 BTC (https://www.coindesk.com/business/2025/09/08/metaplanet-brings-bitcoin-holdings-to-more-than-20k-with-latest-purchase)

[4] Bitcoin Finds A Home In The Heart Of Tokyo (https://www.forbes.com/sites/frankcorva/2025/09/08/bitcoin-finds-a-home-in-the-heart-of-tokyo/)

[5] Japan's Metaplanet Boosts Bitcoin Holdings to Over 20,000 (https://coinlaw.io/metaplanet-bitcoin-holdings-2025-growth/)