Japan’s Metaplanet Q2 Financial Report Shows 468% Bitcoin Yield, Now 4th Largest Global Holder

Japan’s Metaplanet Inc has achieved a massive 468% Bitcoin yield in Q2 2025 while accumulating 18,113 BTC worth $2.1 billion.

As a result, the company has established itself as the fourth-largest corporate Bitcoin holder globally and the largest in Asia, making it the number one best performer out of 55,000 publicly listed companies globally in 2024.

Strategic Pivot from Hospitality to Digital Assets Paid Off

The Tokyo-listed company, which pivoted from hotel management to digital assets under CEO Simon Gerovich, has experienced over 1,000% shareholder growth in one year, reaching 128,000 shareholders through its aggressive Bitcoin treasury strategy.

The former Goldman Sachs derivatives trader has steered Metaplanet toward an ambitious “555 Million Plan” targeting 210,000 BTC by 2027, representing approximately 1% of Bitcoin’s total supply.

According to the Q2 report, the company generated ¥816 million in operating profit on ¥1,239 million in revenue during Q2, primarily driven by its Bitcoin Income Generation segment that produced ¥1,131 million through BTC put option underwriting.

Metaplanet’s performance contrasts with MicroStrategy’s Q2 results, where the company recorded $14.05 billion in unrealized Bitcoin gains while holding 628,946 BTC at an average cost of $73,288.

MicroStrategy has also launched a $4.2 billion preferred stock program to acquire additional Bitcoin, maintaining its position as the world’s largest corporate holder.

Innovative Financing Powers Exponential Bitcoin Accumulation Strategy

Metaplanet has doubled its Bitcoin holdings approximately every 60 days for the past 475 days, acquiring an average of 36.96 BTC daily since adopting the Bitcoin Standard in April 2024.

The company’s market capitalization has increased by ¥555 billion since initiating its Bitcoin strategy, resulting in an annualized performance of 2,260%.

The company filed shelf registration statements for perpetual preferred shares worth up to ¥555 billion over two years, pending shareholder approval at the September 1 Extraordinary General Meeting.

The innovative financing structure aims to transform Japan’s multi-trillion-dollar fixed income market into a Bitcoin accumulation engine.

Metaplanet has utilized zero-interest convertible bonds worth ¥270.36 billion and secured ¥9.09 billion through moving-strike warrants.

The firm additionally raised ¥12.75 billion by issuing perpetual preferred shares to strategic investors, diversifying funding sources beyond traditional equity offerings.

The perpetual preferred shares offer Class A with stable dividends and lower volatility, while Class B includes conversion rights for Bitcoin upside participation.

Issuance is capped at 25% of BTC net asset value to control dividend burden while providing robust risk management during market downturns.

Crypto Industry Growth Surges as Corporate Adoption Reaches New Heights

Just yesterday, Circle Internet Group also reported $658 million in total revenue, up 53% year-over-year, as USDC supply expanded to $65.2 billion with meaningful wallet addresses growing 68% to 5.7 million users.

The stablecoin issuer’s strong fundamentals support the broader digital asset ecosystem, enabling corporate Bitcoin adoption.

While Metaplant is growing smoothly, MicroStrategy has recently been facing multiple class-action lawsuits alleging misleading statements about Bitcoin strategy profitability and risks.

Pomerantz LLP filed suit representing shareholders who purchased stock between April 2024 and April 2025, citing the $5.9 billion unrealized loss disclosure in Q1 2025.

Despite these ups and downs, financial analyst Jeff Walton calculated last month that MicroStrategy has a 91% chance of S&P 500 inclusion if Bitcoin maintains a high level above $100K throughout Q3.

The company requires cumulative positive earnings across four quarters for eligibility, with Q2 results heavily dependent on Bitcoin’s fair market value.

For Metaplanet, the company offers Japanese investors a regulated Bitcoin exposure vehicle with approximately 20% capital gains tax versus up to 55% for direct Bitcoin holdings.

The company is NISA eligible for tax-exempt investment, unlike spot Bitcoin, while providing operational cash flow generation and margin trading access through Japanese securities.

The company’s aggressive acquisition schedule has inspired corporate imitators globally, with firms like SharpLink Gaming adopting similar strategies for Ethereum.

Metaplanet ranks 22nd in Japan for trading value over the last 100 days, accounting for significant Tokyo Standard Market turnover as institutional demand accelerates.

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