> A near-bankrupt Japanese hotel group took one year to push its Bitcoin holdings to the 10,000 mark, its stock price soared 40 times, and its ambition is to reach 1% of the global Bitcoin supply.
While global investors are still celebrating Bitcoin breaking $100,000, a Japanese listed company has quietly added 10,000 BTC to its holdings. On June 16, 2025, Metaplanet announced the acquisition of an additional 1,112 BTC for $117.2 million, bringing its total holdings to a five-figure milestone.
With an average holding cost of $94,697, which seems high in the current market environment, the company's almost frantic increase in holdings cannot be stopped - the return since 2025 has reached 266.1%.
01 The Rise of Asian Bitcoin Giants
Back in April 2024, Metaplanet was still a struggling hotel group. At that time, it tentatively bought 98 Bitcoins, kicking off an epic transformation. No one could have predicted that just 14 months later, this company would become the largest corporate Bitcoin holder in Asia.
Its increase in holdings is astonishing: holdings were only 1,762 BTC in January 2025, and exceeded 10,000 in June. In the first half of the year alone, 7,126 BTC were added, averaging nearly 40 BTC per day.
The capital operation methods are textbook-level: a combination of zero-coupon bonds + equity financing provides it with sufficient ammunition. The latest issued $210 million zero-coupon bonds are specifically designated for Bitcoin purchases.
Even more aggressively, the company just announced a $5.3 billion fundraising plan, preparing to continue its buying spree by issuing 5.55 million shares. This largest warrant issuance in Japanese history will propel Metaplanet to new heights.
02 The Ambitious Blueprint of the '1% Club'
While most companies are still setting annual financial targets, Metaplanet has built an ambitious Bitcoin landscape: 30,000 BTC by 2025, 100,000 BTC by 2026, and 210,000 BTC by 2027 - exactly 1% of Bitcoin's total supply of 21 million.
This is by no means an empty slogan. Its holding ranking has surpassed Coinbase's 9,267 BTC, ranking ninth among global listed companies. It is only one step away from fifth-ranked Tesla (14,200 BTC).
The innovative strategy supporting its ambition emerges:
- Options Income Engine: Selling cash-secured Bitcoin put options, earning premiums on the upside and buying at low prices on the downside, forming a 'defensively strong and offensively excellent' Bitcoin accumulation mechanism
- Restructuring of Business Structure: The Q1 2025 financial report shows that 88% of the company's revenue comes from Bitcoin-related businesses, and the traditional hotel business has shrunk to 12%
- Building a Political-Business Alliance: Inviting Eric Trump, son of Donald Trump, to join the Strategic Advisory Board to access US political and business resources
03 The Market's Crazy Trust Premium
The market expresses its recognition of the Metaplanet model with real money. Its stock price has soared by more than 2000% in the past year, and its market value has exceeded $690 million. On June 16, the day the 10,000 BTC holding was announced, the stock price soared by 26% in a single day.
An intriguing phenomenon: calculated at Bitcoin's market price, Metaplanet's holdings are worth about $947 million, but the company's market value is as high as $5.3 billion. This means that the premium given by the market is equivalent to a Bitcoin price of over $500,000 per share.
The army of short sellers fell here. S&P Global data shows that Metaplanet became the most crowded shorted stock in Japan as early as April, but its stock price has since soared fivefold, causing heavy losses for short sellers.
04 The Butterfly Effect of Institutional Bitcoin Accumulation
Metaplanet is not an isolated case. A global corporate Bitcoin accumulation frenzy is underway:
- MicroStrategy continues to lead, with holdings exceeding 550,000 BTC
- BlackRock swept up 41,452 BTC in two weeks, bringing total holdings to over 610,000
- Trump concept stock Truth Social raises $2.32 billion to build a Bitcoin reserve
Deeper industry changes are brewing:
- Liquidity Crisis Looming: Institutional acquisitions are continuously reducing circulating Bitcoin, which may lead to supply-demand imbalances
- Valuation System Restructuring: Traditional PE valuation methods are replaced by the new metric of 'BTC holdings per share'
- Regulatory Arbitrage Innovation: Metaplanet uses the Japanese regulatory sandbox to design stock warrants that 'protect capital on the downside and follow gains on the upside'
The total corporate Bitcoin holdings have exceeded $100 billion, and more than 150 listed companies have joined this digital gold reserve competition. While sovereign countries are still watching, commercial institutions have quietly reshaped the global asset reserve landscape.
While traditional financial institutions are still questioning Bitcoin's value storage capabilities, Metaplanets have voted with their balance sheets. The trust premium behind its $5.3 billion market value is essentially a market bet on Bitcoin ultimately breaking $500,000.
As these corporate whales continue to swallow 1% of the total Bitcoin supply, an institutional-led digital gold liquidity crisis is brewing - when the last circulating Bitcoin is locked in corporate vaults, the real price discovery is just beginning. $BTC
