Metaplanet’s $117M Bitcoin Buy Pushes Holdings Past 10,000 — Surpasses Coinbase as Top 7 Public BTC Holder

Japanese investment firm Metaplanet has crossed a major milestone, announcing on Monday the purchase of 1,112 Bitcoin worth approximately $117.2 million.

The acquisition brings the firm’s total holdings to exactly 10,000 BTC, a target it had previously set for 2024.

*Metaplanet Acquires Additional 1,112 $BTC, Total Holdings Reach 10,000 BTC* pic.twitter.com/XlM13kQnS9

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.

According to a regulatory filing, 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.

On X, 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.

Metaplanet has acquired 1112 BTC for ~$117.2 million at ~$105,435 per bitcoin and has achieved BTC Yield of 266.1% YTD 2025. As of 6/16/2025, we hold 10,000 $BTC acquired for ~$947 million at ~$94,697 per bitcoin. $MTPLF pic.twitter.com/8nmQ2RaOIF

At the time of the announcement, Bitcoin was trading near $105,831, based on CoinGecko data.

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 holding 9,267 BTC, now trailing Metaplanet’s 10,000 BTC, according to data from Bitbo.

The company’s stock reacted sharply to the news. Shares of Metaplanet surged more than 17% to 1,769 yen on Monday morning in Tokyo, according to Yahoo Finance data.

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.

Japanese investment firm @Metaplanet_JP has unveiled an ambitious new target to amass 210,000 BTC by the end of 2027.#Metaplanet #Bitcoinhttps://t.co/jCQ3G0uzPC

Having reached 10,000 BTC, it would need to acquire an additional 200,000 BTC over the next 18 months to stay on track.

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 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.

Metaplanet is now Japan’s most shorted stock, says CEO as Bitcoin bulls warn of a global short squeeze. “Really bad timing to be short,” says Blockstream’s Adam Back. #Bitcoin #Metaplanethttps://t.co/aWGJO2iQGi

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.

Metaplanet announced issuance of its 17th series of ordinary bonds bearing no interest for $21 million, to fund additional BTC purchases.#Metaplanet #BitcoinPurchase #BondIssuancehttps://t.co/qYqXHbjSJr

Globally, 116 public companies now hold Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. Recent additions include GameStop and Sweden’s H100. Giants like Tesla and Marathon Digital still lead, with over $1 billion in BTC each.

Even after Bitcoin dipped from $110K to $103K last week amid geopolitical tensions, institutional appetite hasn’t slowed. ETFs recorded five straight days of inflows, totaling over $1.3 billion, according to Farside Investors.

Bitwise CEO Hunter Horsley recently argued that Bitcoin could eventually rival the $30 trillion U.S. Treasuries market.

Meanwhile, Michael Saylor reaffirmed that Strategy would continue buying BTC, highlighting how the “Bitcoin standard” playbook is still influencing corporate treasury strategies worldwide.

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