Metaplanet Hits 10,000 BTC Target Early, Stock Surges 17%

Japanese investment firm Metaplanet has made a significant stride in its Bitcoin accumulation strategy, announcing the purchase of 1,112 Bitcoin worth approximately $117.2 million. This acquisition brings the firm’s total holdings to exactly 10,000 BTC, a target it had previously set for 2025. The news came alongside the board’s approval of a ¥33 billion ($210 million) bond issuance to EVO Fund, a Cayman Islands-based investment company. The zero-interest bonds, part of Metaplanet’s 18th series of ordinary bond offerings, will mature in December. The proceeds from the bond sale are intended for Bitcoin purchases, although it remains unclear whether the latest 1,112 BTC acquisition occurred before or after the bond issuance was finalized.

Metaplanet CEO Simon Gerovich confirmed the transaction, stating that the company had purchased the additional BTC at an average price of $105,435 per coin. At the time of the announcement, Bitcoin was trading near $105,831. The company’s total investment in Bitcoin has now reached approximately $947 million, with an average acquisition cost of $94,697 per BTC. Metaplanet first began accumulating Bitcoin in April 2024 and has since emerged as one of the most aggressive institutional buyers in the market. With this latest move, Metaplanet has overtaken Coinbase Global on the list of top public holders of Bitcoin. Coinbase now trails Metaplanet’s 10,000 BTC with 9,267 BTC.

The company’s stock reacted sharply to the news, surging more than 17% to 1,769 yen on Monday morning in Tokyo. Since the start of the year, its stock has risen over 408%, reflecting investor enthusiasm around its Bitcoin-heavy strategy. A key indicator Metaplanet tracks is its bitcoin yield, the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding. According to the firm’s internal figures, this metric has posted strong quarterly growth, with yields reaching 309.8% in Q4 2024 and 87.2% so far in Q2 2025.

Looking ahead, Metaplanet has laid out an ambitious roadmap. The company now targets 210,000 BTC under management by the end of 2027. Having reached 10,000 BTC, it would need to acquire an additional 200,000 BTC over the next 18 months to stay on track. Metaplanet’s aggressive pivot to a Bitcoin-focused strategy has made it Japan’s most shorted stock, despite a staggering 4,800% rise in share price over the past year. The Tokyo-listed firm, once a budget hotel operator, has continued to mimic MicroStrategy’s playbook, buying 1,088 BTC on June 2 at an average price of ¥15.5 million (~$108,600) per coin.

Metaplanet’s Bitcoin accumulation is being fueled by rapid capital market activity. On May 29, the company issued ¥3.2 billion ($21 million) in zero-coupon bonds, its 17th round, shortly after a ¥7.5 billion ($50 million) issuance. The proceeds are going directly into Bitcoin buys. Michael Saylor, executive chairman of MicroStrategy, has reaffirmed that Strategy would continue buying BTC, highlighting how the “Bitcoin standard” playbook is still influencing corporate treasury strategies worldwide.

Michael Saylor, the executive chairman of MicroStrategy, has publicly endorsed Metaplanet, a Japanese firm aggressively accumulating Bitcoin. In a post on X, Saylor congratulated Metaplanet’s CEO Simon Gerovich and the company’s shareholders for hitting a major milestone much earlier than expected. This endorsement comes as Metaplanet’s stock surged over 30%, rising from 1,769 JPY to 2,301 JPY after the company revealed it had purchased 1,112 Bitcoin for around $117.2 million. The average price per coin came in at $105,435. This major buy pushed Metaplanet’s total holdings to 10,000 BTC – reaching its 2025 target well ahead of schedule. The firm also reported a 266.1% year-to-date return on its Bitcoin strategy in 2025, underscoring the strength of its bold accumulation plan.

Metaplanet is not stopping at 10,000 BTC. The company plans to grow its holdings to 21,000 BTC by the end of 2026 – a symbolic nod to Bitcoin’s hard cap of 21 million coins. To make that happen, the company has issued 555 million MS warrants, aiming to raise 770.9 billion yen ($5.34 billion). The entire amount is set to be used for more Bitcoin purchases. This is the largest issuance of its kind in Japanese capital market history, and it’s also the first MS warrant in Japan priced above market value, a move that signals serious confidence in Bitcoin’s long-term value.

While Metaplanet is making headlines, MicroStrategy still holds the crown. As of June 9, the company owns 582,000 BTC, valued at around $62.3 billion, with a one-year return of 158%. On Sunday, Saylor dropped a subtle hint at another upcoming buy, posting “Bigger Dots are ₿etter” along with a chart showing MicroStrategy’s weekly BTC accumulations. If the pattern holds, a new purchase announcement could land any day.

With Bitcoin trading above $106,000, Metaplanet’s rapid rise and record-breaking plans are catching global attention. And with Saylor cheering from the sidelines, it’s a signal of Japan stepping deeper into the Bitcoin game. MicroStrategy may still be far ahead, but in crypto, things can change quickly. Metaplanet’s next moves will be worth watching.