Metaplanet adds more! Japanese companies are crazy about buying Bitcoin, proposing exclusive indicators BTC Yield, BTC Gain, BTC ¥ Gain

Japanese listed company Metaplanet Inc. has announced again that it will continue to increase its investment in Bitcoin, and will use BTC as the core of its corporate treasury through flexible capital market operations. The latest announcement shows that the company purchased an additional 330 coins on April 21, officially surpassing a total holding of 4,800 coins.

Add 330 Bitcoins, total value exceeds 6.2 billion yen

According to the company's statement, Metaplanet purchased 330 Bitcoins at an average price of 12.18 million yen each on April 21, with a total transaction amount of 4.02 billion yen. So far, the company has accumulated Bitcoin holdings of 4,855 coins, with a total investment cost of 62.165 billion yen, and the average holding cost is 12.8 million yen per coin.

This operation is part of the company's "Bitcoin Vault Strategy," which will officially be listed as a core business in December 2024.

What are BTC Yield, BTC Gain, BTC ¥ Gain?

Metaplanet proposes a dedicated KPI system to track the effectiveness of Bitcoin strategies:

BTC Yield: A measure of the growth rate of Bitcoin holdings corresponding to each share, it is an important indicator used to assess whether shareholder value has increased due to the accumulation of Bitcoin.

BTC Gain: Multiply the initial Holdings by the BTC Yield to obtain the net increase in Bitcoin under the assumption of no dilution.

BTC ¥ Gain: This is the conversion of the above BTC Gain into Japanese yen, allowing investors to intuitively understand the financial impact.

For example, in the first quarter of 2025 (from January 1 to March 31), BTC Yield reached an astonishing 95.6%, which means the equity corresponding to Bitcoin Holdings nearly doubled. The BTC Yield from April 1 to April 21 was 12.1%.

It's not just about buying coins; the operations in the capital market are also precise and on point.

To raise funds for purchasing coins, Metaplanet collaborates with EVO FUND through a series of convertible bonds and new stock issuance operations, issuing multiple periods of zero-interest bonds and stock purchase rights. These capital operations include:

From January to April: Issuance of the 6th to 11th series of interest-free bonds, totaling over 12 billion yen.

Stock option execution progress: Under the "210 million plan", approximately 41.7% of the execution has been completed, raising more than 35 billion yen.

Stock delivery status: From the 13 to 17 series of rights, tens of millions of new shares have been delivered and multiple periods of bonds have been redeemed early, with the funds directly invested in the Bitcoin market.

Increasing investment every week, the growth trajectory of Bitcoin holdings is revealed.

Starting from December 2024, Metaplanet has had almost weekly coin purchase records, with Holdings increasing from 1,761 coins to the current 4,855 coins:

Date BTC Holdings Total Investment Amount Average Purchase Price 2025/03/31 4,046 coins 52.37 billion yen 12.94 million yen 2025/04/14 4,525 coins 58.14 billion yen 12.84 million yen 2025/04/21 4,855 coins 62.16 billion yen 12.80 million yen

Such actions indicate that Metaplanet is not engaging in short-term coin speculation, but rather making a long-term arrangement, attempting to incorporate Bitcoin as part of the company's assets.

How should investors view the lack of dividends and price commitments?

Although indicators like BTC Yield depict the effectiveness of the company's strategy, Metaplanet emphasizes that these indicators do not represent cash flow, profitability, nor can they predict the company's stock price. More importantly, the company has not issued dividends to date and does not guarantee that holdings are equivalent to owning Bitcoin itself.

These indicators are only for understanding how the company accumulates Bitcoin through the issuance of stocks and bonds, but it is still recommended that investors refer to financial reports and disclosures from the Tokyo Stock Exchange for a comprehensive assessment.

Companies can also be "Bitcoin whales".

The operations of Metaplanet can be considered as a pioneer in cryptocurrency among Japanese companies. Not only do they hold a large amount of coins through flexible financial strategies, but they have also established a unique measurement framework. Bitcoin is no longer just an investment product, but has become a part of corporate capital management.

As the market matures, will this type of innovative financial structure inspire other companies to follow suit? Perhaps in the future, company financial reports will not only show cash flow but also an additional column: Bitcoin balance!

This article Metaplanet doubles down! Japanese companies are crazily buying Bitcoin, proposing exclusive indicators BTC Yield, BTC Gain, BTC ¥ Gain first appeared in Chain News ABMedia.