Metaplanet stocks up on Bitcoin: another 136 BTC on the balance sheet, reserves at 20,136 – the BTC Yield YTD reaches 487%

Metaplanet Inc., a Japanese company listed in Tokyo, has made a new purchase of 136 BTC for approximately 15.2 million dollars (Source: CryptoNews), bringing the total reserves to 20,136 BTC.

The average price of the transaction is around 111,666 dollars per bitcoin; the overall average cost of acquisitions, however, stands at about 103,196 dollars per BTC, indicating that some previous purchases were made at lower levels.

Additionally, the company reports a BTC Yield YTD of 487% for 2025, placing the operation on an already defined growth trajectory. Data and evaluations are updated as of September 8, 2025; the nominal value of the reserves based on the average transaction price is approximately 2.25 billion dollars.

According to the data collected by our analysis team on publicly traded companies in Asia, direct purchases of BTC as a treasury reserve have intensified over the past two years, with greater frequency in tech companies and financial holdings.

Industry analysts note that the gradual approach adopted by Metaplanet is consistent with best practices for managing volatility and stock dilution.

The practice of holding cryptocurrencies on the balance sheet raises accounting and regulatory issues that have been the subject of in-depth analysis by authorities and major professional firms; for reference, see the guidelines and analyses on accounting and crypto assets published by PwC — Accounting for cryptoassets and the institutional communications of the Financial Services Agency (Japan).

The essential numbers of the operation

• BTC purchased: 136
• Estimated outlay: ~15.2 million dollars
• Average price per BTC (operation): ~111,666 dollars
• Total reserves of Metaplanet: 20.136 BTC
• Overall average cost: ~103,196 dollars per BTC

BTC Yield: what it is and how Metaplanet uses it

Metaplanet adopts the BTC Yield as an internal metric to evaluate the impact of bitcoin reserves on corporate capital. In summary, the metric measures the change in BTC reserves relative to the number of fully diluted shares, thus linking the increase in BTC on the balance sheet to the potential value per share (Source: Bitcoin News). That said, the calculation logic – although simplified – involves normalizing the growth of BTC reserves over the total shares outstanding, providing a concise indication for shareholders. The reported figure for 2025 is 487% YTD, a value provided by the company; the complete definition and assumptions are illustrated in the proprietary documentation (see Metaplanet — Analytics).

Why it matters: the corporate case and balance sheet diversification

The increase in bitcoin reserves by a publicly traded company in Japan highlights a diversification strategy that more and more companies are considering. In this context, bitcoin on the balance sheet is understood as a digital reserve with a risk-return profile different from traditional assets, capable of impacting the overall financial positioning.

The Metaplanet case is not just about buying bitcoin, but involves a broader financial engineering that integrates capital instruments linked to BTC and careful management of equity dilution, with the aim of scaling exposure without compromising the capital structure. It should be noted that the gradual and disciplined approach aims to build an operational perimeter consistent with the constraints of the local market.

Impact on Shareholders: Metrics and Trade-offs

• Key metric: BTC Yield on a YTD 2025 basis, used to measure the contribution of reserves to the value per share.
• Positive driver: the strategic accumulation of BTC and the discipline adopted in managing dilution have the potential to support the value per share.
• Trade-off: the volatility of bitcoin’s price and the specific conditions of the Japanese market can influence the outcomes, either positively or negatively.

Context and Comparison: Where Metaplanet Stands

With the growing interest in bitcoin reserves among publicly traded companies, miners, and specialized holdings, Metaplanet positions itself in an evolving landscape, boasting a stockpile of over twenty thousand BTC (see Bitcoin and corporate strategies in Japan). While an official and updated database remains necessary for a complete ranking, the case of the company is among the most observed in Asia (Source: Block News Media), also due to the consistency with which it updates the market.

Strategy in Japan: the Regulatory Factor

The Japanese market shows a growing focus on the digital management of treasury, with insights and reflections on accounting and tax regulations. Metaplanet presents itself as a local reference case, useful for testing disclosure practices, financing tools, and interactions with the evolving regulatory framework, at a stage where the standardization of policies is still in progress.

Risks and Variables to Monitor

• BTC Price: the trend of bitcoin’s price has a direct impact on the balance sheet, covenants, and performance indicators. For further insights, see Bitcoin price technical analysis.
• Stock dilution: any new issuances can alter the earnings per share metric.
• Regulation: updates in accounting and tax regulations in Japan could influence the treatment of reserves in bitcoin (see crypto regulation in Japan).
• Liquidity: the management of inflows and outflows in BTC and access to funding markets specific to cryptocurrencies remain key aspects.

Conclusion

With the purchase of 136 BTC, Metaplanet consolidates its accumulation strategy, integrating bitcoin as a corporate reserve and as a metric to evaluate capital performance. The BTC Yield YTD of 487% for 2025 highlights the emphasis placed on maximizing capital efficiency in relation to digital reserves. That said, it remains essential to monitor volatility and dilution, elements that will continue to influence the economic impact for shareholders in the coming months.