“Japan’s MicroStrategy” Strengthens Position in Corporate Cryptocurrency Accumulation Race

Japanese investment company Metaplanet has acquired an additional 1,004 Bitcoin (BTC), spending approximately $104.3 million, taking advantage of BTC price falling below the key support level of $104,000. The Tokyo Stock Exchange-listed company confirmed the purchase in a statement published early Monday. As a result of this new acquisition, Metaplanet’s total Bitcoin holdings have reached 7,800 BTC, with an aggregate value of about $806 million at current market prices. This brings the company closer to its stated goal of reaching 10,000 BTC by the end of 2025.

Metaplanet’s Strategy: Following MicroStrategy’s Footsteps in Asia

Metaplanet, often referred to as “Japan’s MicroStrategy,” began implementing its Bitcoin treasury strategy in April 2024. Since then, the company has used funds raised from bond sales and stock placements to systematically increase its BTC reserves. The latest acquisition marks the third major addition to its crypto portfolio, bringing the company’s total investment to $712.5 million, at an average price of $91,343 per coin.

“Metaplanet is applying the same strategy as MicroStrategy, but with Japanese specificity and on a smaller scale,” explains Akira Takayama, a crypto analyst from Nomura Securities. “The company uses traditional financial instruments to raise capital, which is then invested in Bitcoin as a reserve asset. This is a striking example of how Michael Saylor’s strategy is finding followers in Asia.”

In the press release, company CEO Simon Gerovich confirmed the latest transaction, emphasizing Metaplanet’s commitment to a long-term BTC accumulation strategy. The company raises capital through a combination of debt instruments, such as conventional bonds, and sliding-strike warrants. Just last week, they conducted their 15th bond issue, raising $15 million to finance new crypto acquisitions.

According to Bitcointreasuries.net, Metaplanet is currently the largest publicly registered corporate Bitcoin holder in Asia. On a global scale, it ranks 11th, trailing behind MicroStrategy, which owns an impressive 568,840 BTC.

Buying the Dip: Market Entry Tactics

The average price per Bitcoin in Metaplanet’s latest purchase was $103,873, indicating that the company is deliberately acquiring cryptocurrency during market corrections. At the time of the transaction, Bitcoin was trading at $103,343, slightly below the important $104,000 support zone, where a strong demand base had previously formed.

“The buy-the-dip strategy employed by Metaplanet is a classic approach of experienced investors,” comments Yuki Nakamura, managing partner at Tokyo Digital Asset Partners. “The company isn’t trying to catch the lowest price, but rather systematically accumulating assets during each significant decline, which usually proves effective in the long run.”

Analysts note that although BTC has fallen 3.3% over the last 24 hours, buyers remain active. The $102,734 level is viewed as key support, and Bitcoin is currently trading slightly above it at $102,907. If this level holds, Bitcoin could establish itself above $103,000 and then attempt to retest the $105,000 range.

However, concerns remain about potential profit-taking by long-term holders, which could push the price toward further decline to the psychologically significant $100,000 mark. For now, investor sentiment appears stable, and institutional players like Metaplanet continue to build positions.

Impressive Financial Results: Bitcoin as the Main Revenue Source

Metaplanet recently disclosed its results for the first quarter of 2025, reporting revenue of ¥877 million (approximately $6 million). Bitcoin accounted for 88% of this amount, highlighting its central role in the company’s revenue model. The BTC portfolio’s yield increased by an impressive 300% for the quarter, and the company projects that by the end of 2025, total returns will exceed 232%.

From January to May 10, Metaplanet significantly increased its BTC reserves—by more than 5,000 bitcoins. The company reported an additional purchase of 1,241 BTC for $119 million on May 12, 2025, at an average price of $95,700 per coin. Thanks to these acquisitions, the company’s crypto assets have grown from 1,700 BTC at the beginning of the year to 7,800 BTC as of this week.

“Metaplanet’s first-quarter results clearly demonstrate how a Bitcoin investment strategy can transform a company’s financial performance,” notes Hiroshi Watanabe, a financial analyst from Mizuho Securities. “Returns from crypto investments significantly outperform traditional business lines, making Metaplanet effectively a proxy asset for investors wishing to gain exposure to Bitcoin through traditional financial markets.”

Shareholder interest in the company is also growing rapidly. Over the year, the number of shareholders increased by 500%, reaching 64,000 by the end of the first quarter. This impressive expansion of the investor base reflects growing confidence in Metaplanet’s strategy and demonstrates the general increase in interest in companies providing indirect exposure to the cryptocurrency market.

Stock Growth: Corporate Transformation in Action

The company’s direction is reflected in its stock market performance. Metaplanet shares, listed under ticker 3350.T on the Tokyo Stock Exchange, have appreciated 70.91% since January 2025. Following news of the latest BTC purchase, the company’s shares jumped 12.2% in just one day of trading on Monday.

“The market’s reaction to Metaplanet’s strategy confirms that investors positively evaluate corporate investments in Bitcoin,” comments Amy Chen, a market strategist from Morgan Stanley Japan. “We’re seeing how the company has essentially transformed from a traditional investment firm into a proxy Bitcoin ETF with a corporate structure. This is an innovative approach that is particularly attractive to institutional investors who, for regulatory reasons, cannot directly invest in cryptocurrencies.”

This share price growth significantly outpaces both the broader market and many technology companies. Japan’s Nikkei 225 index rose just 8.2% over the same period, making Metaplanet one of the leaders in the Japanese stock market in terms of returns in 2025.

Metaplanet versus MicroStrategy: Similarities and Differences

Metaplanet is often compared to American MicroStrategy, considered the pioneer and largest corporate Bitcoin holder, due to a similar strategy of aggressive cryptocurrency accumulation. Both companies use virtually identical methods of raising capital, which is mobilized through traditional financial instruments for investment in BTC as a reserve asset.

To date, MicroStrategy owns 568,840 BTC, making it the largest corporate holder globally, while Metaplanet is working toward a more modest goal of 10,000 BTC. Following its latest acquisition, the Japanese company has reached 78% of this goal.

“There are important differences between the two companies, despite the similarity of their strategies,” explains Takashi Murakami, a professor of finance at the University of Tokyo. “MicroStrategy has essentially transformed into a company entirely focused on Bitcoin, while Metaplanet maintains a more diversified portfolio of assets and business directions. Additionally, the Japanese regulatory context creates a different environment for corporate investments in cryptocurrencies, with stricter reporting and risk management requirements.”

Despite these differences, both companies demonstrate similar dynamics in the stock market, with shares that largely follow Bitcoin’s price but with additional leverage provided by the corporate structure.

Market Significance and Outlook

Metaplanet’s strategy has significance not only for the company itself but also for the broader cryptocurrency market, especially in the Asian region. The emergence of an Asian corporate equivalent to MicroStrategy signals growing institutional acceptance of Bitcoin beyond Western markets.

“This is an important signal for the region,” believes Len Sato, founder of the Japan Crypto Association. “When a publicly traded Japanese company with a conservative reputation makes such significant investments in Bitcoin, it legitimizes this asset class for institutional investors across Asia.”

From a market impact perspective, systematic purchases by Metaplanet and other corporate investors create steady buying pressure, which can help establish a solid support level for Bitcoin’s price. If other Asian companies follow Metaplanet’s example, this could strengthen institutional demand for Bitcoin in a region that has historically been an important center of cryptocurrency trading.

As we approach the end of 2025, it will be interesting to observe whether Metaplanet achieves its 10,000 BTC goal and how this affects its financial results and share value. With Bitcoin already accounting for 88% of the company’s revenue, Metaplanet has effectively become a proxy investment in cryptocurrency with a corporate shell—a model that may find followers among other public companies in Asia and beyond.