Bitcoin News Today: "Metaplanet's Bitcoin Gamble: Billion-Dollar Bet Amid Dwindling Treasury Buys"

Japanese cryptocurrency treasury firm Metaplanet continues to expand its Bitcoin holdings, reaching 20,136 BTC as of September 2025. The company recently acquired an additional 136 BTC for approximately $15.2 million, raising its total Bitcoin investment to $2.08 billion at an average cost of $103,196 per coin. This acquisition places Metaplanet as the sixth-largest publicly traded corporate holder of Bitcoin globally, according to BitcoinTreasuries data [2]. The company’s CEO, Simon Gerovich, stated the purchase was made at an average price of $111,666 per Bitcoin on X, affirming Metaplanet’s continued bullish stance on the cryptocurrency [2].

Metaplanet’s journey mirrors that of U.S.-based MicroStrategy, having transformed from a struggling company into a major Bitcoin accumulator. The firm currently holds 20,136 BTC, with an ambitious long-term target of acquiring 210,000 coins. Despite its significant Bitcoin holdings, Metaplanet faces financial hurdles in reaching its goal. The company secured shareholder approval to raise ¥555 billion ($3.8 billion) to support its Bitcoin accumulation strategy, yet it remains underfunded for the scale of its ambitions [1].

The broader Bitcoin treasury sector is experiencing a shift in buying behavior. Onchain data from CryptoQuant indicates that the average purchase size for Bitcoin treasury companies has declined by 86% from early 2025 highs. This trend suggests either liquidity constraints or a general reluctance among companies to commit large capital blocks [4]. Metaplanet is not alone in this cautious approach—many firms have reduced their average purchase sizes, with some acquiring only 343 BTC per transaction compared to previous averages of 66,000 BTC [4]. This decline in purchase volume raises concerns about the sustainability of current Bitcoin price levels, which have been largely supported by institutional accumulation in the second quarter of 2025 [4].

Meanwhile, Asia is emerging as a significant growth market for Bitcoin treasuries. In particular, Sora Ventures, a venture firm based in Taiwan, has launched a $1 billion Bitcoin treasury fund, aiming to support institutional adoption across the region. The fund, with an initial commitment of $200 million, plans to assist multiple companies in building Bitcoin reserves. Unlike Metaplanet, which operates as a publicly traded entity, Sora’s fund will consolidate capital from institutional investors to support a diverse group of firms [5]. This initiative reflects broader efforts to institutionalize Bitcoin in Asia and could signal a shift in how corporate treasuries are structured in the region [5].

Despite Metaplanet’s continued accumulation, its stock has struggled in recent months. As of mid-September 2025, the company’s shares had declined 30% from their peak in July, with the Japanese stock trading at ¥725. The share price has dipped below both the 50-day and 200-day Weighted Moving Averages, a technical indicator often associated with bearish momentum. Analysts note that the stock’s decline aligns with broader trends in the Bitcoin treasury sector, where companies like MicroStrategy and American Bitcoin (ABTC) have also experienced significant stock price declines [1]. Market participants point to valuation concerns, industry saturation, and Bitcoin price corrections as factors contributing to the downturn [1]. The company’s stock is currently down 1.2% in Japan and has fallen 1.6% in U.S. markets in recent sessions [2].

The Bitcoin price itself remains relatively stable, trading around $111,146 as of late September 2025, supported by expectations of Federal Reserve rate cuts and institutional demand. However, the sustainability of this price level remains uncertain, particularly as average purchase sizes for Bitcoin treasuries continue to shrink. With Metaplanet and other firms exercising greater caution in their buying strategies, investors are watching closely to see whether the next phase of institutional adoption will be driven by larger, more coordinated efforts like those emerging in Asia [4].

Source:

[1] Bankless Times - [https://www.banklesstimes.com/articles/2025/09/05/metaplanet-stock-heres-why-japans-microstrategy-is-crashing/](https://www.banklesstimes.com/articles/2025/09/05/metaplanet-stock-heres-why-japans-microstrategy-is-crashing/)

[2] The Block - [https://www.theblock.co/post/369745/metaplanet-buys-15-million-worth-bitcoin](https://www.theblock.co/post/369745/metaplanet-buys-15-million-worth-bitcoin)

[3] CoinDesk - [https://www.coindesk.com/markets/2025/09/08/asia-morning-briefing-btc-treasury-demand-is-weakening-cryptoquant-cautions](https://www.coindesk.com/markets/2025/09/08/asia-morning-briefing-btc-treasury-demand-is-weakening-cryptoquant-cautions)

[4] Yahoo Finance - [https://finance.yahoo.com/news/asia-morning-briefing-btc-treasury-011004458.html](https://finance.yahoo.com/news/asia-morning-briefing-btc-treasury-011004458.html)

[5] 99Bitcoins - [https://99bitcoins.com/news/bitcoin-btc/sora-ventures-launches-asias-first-1b-bitcoin-treasury-fund/](https://99bitcoins.com/news/bitcoin-btc/sora-ventures-launches-asias-first-1b-bitcoin-treasury-fund/)