Key Takeaways
- Metaplanet acquired 696 Bitcoin in Q1 2025 via put options.
- The company's BTC Yield for Q1 reached 95.6%.
- Total holdings now stand at 4,046 BTC, with 52.37B yen invested.
Metaplanet Inc. announced it added 696 Bitcoin during the first quarter of 2025 as part of its Bitcoin Income Generation business line, bringing its total holdings to 4,046 BTC.
The acquisition was executed using a strategy of selling cash-secured put options, which generated 770.4 million yen in premium revenue—equivalent to 50.26 BTC.
Acquisition strategy
This strategy allowed Metaplanet to acquire Bitcoin at an average nominal price of 14.58 million yen per BTC.
However, when factoring in premiums earned, the effective acquisition cost dropped to 13.48 million yen—below the spot price at the time.
Metaplanet stated:
The Company improved its BTC acquisition efficiency and executed its Bitcoin Treasury strategy at lower effective prices.
Performance metrics
In terms of performance metrics, Metaplanet reported a BTC Yield of 95.6% for Q1 2025. This follows a 309.8% yield in Q4 2024.
The BTC ¥ Gain—the value of the quarter’s Bitcoin increase in yen—stood at 20.92 billion yen, based on an end-of-quarter BTC/JPY rate of 12.42 million.
Funding for continued accumulation
To fund its continued Bitcoin accumulation, Metaplanet raised 10 billion yen through a series of zero-coupon bonds issued to EVO FUND and completed early redemptions using proceeds from exercised stock acquisition rights.
The company has now achieved 24.3% of its “21 Million Plan,” issuing approximately 51 million shares so far.
