Japan’s Metaplanet Inc has stunned investors with a 468% Bitcoin yield in the second quarter of 2025, raising its total holdings to 18,113 BTC, worth about $2.1 billion. The Tokyo-listed company began piling up Bitcoin in April 2024 under its “Bitcoin Standard” plan. CEO Simon Gerovich said the strategy shows the company’s shift from hotels to digital assets. Metaplanet is now the largest Bitcoin holder in Asia and fourth in the world, according to Bitcoin Treasury.
In Q2, the company earned ¥1,239 million in revenue and ¥816 million in operating profit. Most of that, over 91% came from its Bitcoin Income Generation plan, which includes earning income from Bitcoin-related options. Its other businesses, like hotels and media, played a much smaller role.
Just recently, Metaplanet has bought an extra 518 BTC, spending a total of ¥270 billion at an average price of about $101,000 per coin. The company’s Bitcoin yield for the year has added another 8,248 BTC, valued at ¥146.9 billion.
To fund these buys, Metaplanet has raised ¥242.4 billion and set up plans to issue perpetual preferred shares worth up to ¥555 billion, awaiting shareholder approval on September 1.
The financing includes zero-interest convertible bonds and moving-strike warrants, giving it fresh ways to collect Bitcoin while controlling risk. Some preferred shares pay steady dividends, while others allow investors to benefit if Bitcoin’s price climbs.
Notably, Metaplanet has been doubling its Bitcoin holdings about every 60 days since April 2024. Meanwhile, Shareholders have grown to 128,000, a 1,000% increase in one year, and the company’s value has risen over 100 times since starting the Bitcoin Standard. Looking ahead, Metaplanet plans to hold 210,000 BTC by 2027, about 1% of all Bitcoin.
Compared with global giants like MicroStrategy, which holds 628,946 BTC at an average cost of $73,288, Metaplanet’s rapid rise stands out as it remains the only public company in Japan with regulated Bitcoin access and one of the busiest players in the country’s capital markets in 2025.
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