Metaplanet's Bold Bitcoin Bet: Can Corporate Demand Sustain the Hike?

Metaplanet Inc., a Tokyo-listed Bitcoin treasury company, continues to make significant strides in its long-term Bitcoin acquisition strategy. On September 8, 2025, the firm reported the purchase of an additional 136 Bitcoin for $15.19 million, averaging $111,666 per coin. This acquisition brings the company’s total Bitcoin holdings to 20,136 BTC, valued at approximately $2.08 billion, according to a company filing. The purchase underscores the company’s continued commitment to a strategy of aggressive Bitcoin accumulation.

The company has established an ambitious roadmap, with a target of holding 30,000 BTC by the end of 2025 and 100,000 BTC by 2026. As of the latest acquisition, Metaplanet has achieved 67% of its 2025 target and 20% of its 2026 goal. To meet these targets, the company will need to acquire nearly 10,000 BTC in the remaining months of 2025 and an additional 70,000 BTC in 2026. This strategy represents a substantial expansion of its original plan, which had targeted 10,000 BTC by 2025 and 21,000 BTC by 2026.

Data from the IndexBox platform highlights a broader trend of increasing Bitcoin acquisitions by corporations worldwide. Metaplanet’s Bitcoin holdings, totaling nearly $2.1 billion, reflect a growing trend where corporate treasuries now hold over a million BTC, accounting for approximately 5% of the circulating supply. Analysts suggest this growing corporate demand could serve as a strong support mechanism for Bitcoin’s price. However, the firm’s independent director, Pranav Agarwal, noted that the company’s progress could be affected if the price of Bitcoin compresses relative to its net asset value.

To finance its aggressive acquisition strategy, Metaplanet recently secured shareholder approval for an $884 million capital raising initiative. Agarwal stated that the company is well-positioned to manage its capital structure through a balanced mix of equity issuance and debt, reducing the likelihood of a forced liquidation scenario. This capital injection is expected to play a crucial role in funding future purchases as the company moves closer to its 2026 target.

Recent purchases indicate consistent buying activity, particularly in the months of June, July, and August 2025. For example, on June 16, 2025, the company acquired 1,112 BTC at an average price of $105,435, and on July 7, it purchased 797 BTC at $117,451. These transactions reflect a disciplined buying approach, with the firm acquiring Bitcoin at various price points depending on market conditions. As of September 8, 2025, the company’s Bitcoin holdings have increased to 20,136 BTC, with the most recent acquisition bringing the total cost to $2.08 billion.

The company’s stock, currently trading at around $4.60 per share, has declined by 4.1% in recent trading. While the stock price movement may be influenced by broader market trends, the company remains focused on its long-term Bitcoin acquisition goals. With continued corporate demand for Bitcoin and increasing institutional interest, Metaplanet’s strategy could influence broader market dynamics and investor sentiment toward digital assets.