Metaplanet Buys $451M in Bitcoin, Amasses 35,102 BTC and Posts 568% BTC Yield in 2025

Key Takeaways:

• Metaplanet acquired 4,279 BTC for $451 million in Q4 2025, bringing total holdings to 35,102 BTC.
• The firm reported a 568.2% year-to-date BTC Yield, driven by accumulation and income strategies.
• Average Bitcoin acquisition cost stands at ~$107,606 per BTC, with total exposure nearing $3.8 billion.

Metaplanet has also solidified its reputation as one of the most aggressive corporate Bitcoin holders of the market. The buying spree and yield performance in the Q4 of 2015, which was characterized by institutional accumulation, is a massively large and highly structured performance of the company.

Read More: Metaplanet Clears All 5 EGM Proposals, Unlocks Preferred Shares to Scale $3.8B Bitcoin Strategy

The Metaplanet CEO, Simon Gerovich, acknowledged that in the fourth quarter of 2025, it had acquired 4 279 BTC with an approximate cost of about $451.06 million at an average price of $105,412 per Bitcoin.

The company currently owns 35,102 BTC, which it has purchased at a total cost of approximately $3.78 billion, with the average acquisition price per BTC being $107,606.

Both Gerovich and the official account of Metaplanet publicly disclosed this information through X and a formal notice about the Q4 financial performance and the adjustments of the entire year’s perspective concerning the Bitcoin income business of the company.

Metaplanet has been active in terms of managing its treasury, unlike companies that hold Bitcoin passively; it has engaged in a combination of spot buying and systematic income strategies through the course of 2025 to amplify BTC-paying returns

Read More: $1.9T Norway Wealth Fund Backs Metaplanet’s Bitcoin Expansion, Boosting Institutional Confidence

The BTC Yield of Metaplanet was also one of the most striking components of the announcement, increasing 568.2% year-to-year. The metric created debate in the crypto communities, especially under the light of the fluctuating price of Bitcoin throughout the year.

According to Metaplanet, BTC Yield does not quantify a price appreciation. Rather, it follows the development of Bitcoin investments as compared to the number of fully diluted shares of the company.

This means:

• Yield reflects balance sheet expansion in BTC terms
• It includes BTC earned through option premiums and income strategies
• It excludes unrealized gains or losses from Bitcoin price movements

Consequently, even at the times when BTC was lower than the average cost of acquisition of Metaplanet, this company could still report a drastically higher yield by accumulating the total volume of the Bitcoin under its control.

Such a method of accounting is more appropriate to Bitcoin-native treasury strategies, as compared to standard mark-to-market metrics when managing an equity portfolio.

Together with its treasury update, Metaplanet disclosed that its Bitcoin Income Business was proving to be higher than expected in 2025.

The company now expects:

• JPY 4.24 billion in operating revenue from the Bitcoin income unit in Q4 alone
• JPY 8.58 billion in operating revenue for the full fiscal year 2025

Notably, Metaplanet has highlighted that its long-term holdings on Bitcoin are not burdened. The company also isolates treasury BTC and derivatives-based income strategies, which lessen the exposure to forced liquidations under stress in the market.

With 35,102 BTC on its balance sheet, Metaplanet now ranks among the largest publicly disclosed corporate Bitcoin holders globally.

While many Bitcoin-treasury companies rely on dollar-cost averaging or simple buy-and-hold models, Metaplanet’s strategy blends:

• Large-scale spot accumulation
• Active income generation via options
• A Bitcoin-first balance sheet philosophy

This hybrid approach places the firm somewhere between pure treasury holders and crypto-native financial operators.

The strategy has not been without scrutiny. Some investors have questioned the sustainability of yield metrics tied to derivatives. Others point to execution discipline and risk separation as evidence of a more mature institutional Bitcoin model.

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