Metaplanet Surpasses El Salvador With 16.2% Unrealized Profit On 6,796 BTC Holdings

Metaplanet, a Japan-based investment firm, has acquired 1,241 Bitcoin (BTC) for approximately $126.7 million. This acquisition has positioned Metaplanet as one of the largest institutional holders of Bitcoin, surpassing El Salvador in total Bitcoin holdings. According to a company disclosure, the firm acquired more Bitcoin at an average price of approximately $102,119 per coin. This brings its total holdings to 6,796 BTC, up from 5,555 BTC just last week.

Metaplanet began acquiring Bitcoin in April 2024 and now holds more than El Salvador’s national reserves. El Salvador, a prominent state-level adopter since 2021, has 6,174 BTC, trailing Metaplanet by 622 BTC. Metaplanet CEO Simon Gerovich highlighted the company’s growing commitment to Bitcoin, revealing a cumulative investment of approximately $608.2 million. At the current BTC price of $104,003, Metaplanet’s holdings are now worth around $706.8 million, representing a 16.2% unrealized profit.

Moreover, the firm has achieved a BTC Yield of 170.0% year-to-date (YTD) in 2025, a metric that tracks the growth in Bitcoin holdings per fully diluted share. For the current quarter alone—April 1 to May 12, 2025—the BTC Yield stands at 38.0%, reflecting continued shareholder value creation through its treasury strategy. The company’s stock is also benefiting from its Bitcoin pivot. Following today’s announcement, Metaplanet shares rose 3.8% in Monday trading. Additionally, the stock’s value has surged 15x since it began accumulating BTC, signaling investor confidence in the firm’s Bitcoin-focused strategy.

Metaplanet’s approach mirrors that of a US-based firm, a first mover in corporate Bitcoin accumulation. An analyst recently suggested that Metaplanet may offer even greater upside relative to Bitcoin’s price growth. In a ballistic acceleration model, the analyst projected that at a $120,000 BTC price, Metaplanet stock could double, while the US-based firm’s might rise 1.6x. At $150,000, Metaplanet could see a 4.5x surge compared to the US-based firm’s 3.0x gain. This “asymmetric upside” highlights how Metaplanet—still in the early stages of its Bitcoin strategy—could deliver outsized equity returns relative to its risk, positioning itself as a high-beta proxy for Bitcoin exposure.