Enhanced Bitcoin Reserves and Substantial Unrealized Profits
Strategy recently augmented its Bitcoin portfolio with the acquisition of 7,633 additional BTC, bringing its total holdings to 478,740 BTC. This strategic move has significantly inflated the company’s unrealized gains to over US$17 billion, calculated based on an average purchase price of US$62,691 per BTC and the current market value of approximately US$97,405.80. Notably, Strategy’s Bitcoin yield for the current year has reached 4.1%.
According to data from Bitcoin Treasuries, Strategy now possesses nearly 12 times more Bitcoin than Marathon Digital, which holds the second-largest Bitcoin reserve among publicly traded entities.
Metaplanet’s Strategic Shift Towards Bitcoin and Subsequent Expansion
Metaplanet, originally focused on the hospitality sector, has undergone a fundamental change in its business strategy by adopting Bitcoin as a primary asset. As of February 10, its reserves were reported at 1,762 BTC, accumulated through a combination of internally generated capital and the calculated employment of financial instruments.
Last April marked a pivotal moment when Metaplanet rebranded itself as a Bitcoin Treasury Company, subsequent to raising over US$150 million to amplify its exposure to Bitcoin. By the year’s end, the company’s Bitcoin holdings had expanded to a level 14 times greater than its previous market capitalization, establishing it as the foremost public Bitcoin holder in Asia and placing it among the leading companies globally in this respect.
The company currently operates two revenue-generating ventures. Alongside its established hotel operations, it has introduced a Bitcoin income model designed to capitalize on market fluctuations. In line with this innovative approach, the company intends to transform its Tokyo hotel into a Bitcoin-themed destination, further integrating its dual business streams.
Since transitioning to a Bitcoin-centric strategy, Metaplanet has witnessed an extraordinary increase in its shareholder base—a surge of 500%—and its market valuation has expanded by over 100 times. Trading volumes for its stock in 2024 have increased by over 430 times compared to the prior year.
Financial Successes and Future Objectives
In its most recent fiscal year, Metaplanet reported a net income of ¥6.397 billion (approximately US$42.1 million), achieving its first profitable year since 2017. Total assets reached ¥30,325 million, representing an impressive increase of 1,720% from the previous year. The firm has emphasized that any future capital raised will be allocated to acquiring additional Bitcoin rather than financing operational expenses.
Another critical metric, the quarterly shift in the ratio of Bitcoin holdings to fully diluted outstanding shares—denoted as the “BTC Yield”—demonstrated substantial progress. Looking forward, Metaplanet has established ambitious objectives: it aims to hold 21,000 BTC by the conclusion of 2026, with an intermediate target of reaching 10,000 BTC by the end of 2025 already within reach. To expedite this growth, the company announced a bond issuance on February 10 that generated over US$26 million, specifically designated for expanding its Bitcoin portfolio.
The company is resolute in maximizing the amount of Bitcoin per share, moving away from strategies centered around fiat currency while maintaining a sustainable profit margin.
| Company | BTC Holdings | Future Target |
| Strategy | 478,740 BTC | Not Applicable |
| Metaplanet | 1,762 BTC (as of Feb. 10) | 10,000 BTC by end of 2025; 21,000 BTC by end of 2026 |
Summary
Both Strategy and Metaplanet have strategically amplified their Bitcoin holdings, resulting in substantial unrealized gains and improved market positions. While Strategy’s recent acquisition has reinforced its standing as a major Bitcoin holder among public companies, Metaplanet’s dramatic shift from hospitality to a Bitcoin treasury model has fueled exponential growth in its financial performance. Their ongoing initiatives underscore a decisive move towards maximizing the advantages of Bitcoin within their corporate strategies.
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