Bitcoin rallies past $87k as Metaplanet and Strategy purchase 6,856 BTC worth almost $600M

Bitcoin’s rally past $87,000 comes amid reignited aggressive buying from institutional players.

On April 21, Japan-based Metaplanet and US firm Strategy (formerly MicroStrategy) both disclosed major Bitcoin acquisitions, adding a combined total of nearly 7,000 BTC to their corporate reserves.

This move signals their continued confidence in Bitcoin as a hedge against inflation and monetary instability.

Bitcoins Metaplanet nears 5,000 BTC in holdings

Metaplanet, a Tokyo-listed investment firm, revealed that it added 330 BTC to its balance sheet on April 21. The purchase, worth approximately $28.2 million, marks its third Bitcoin acquisition this month.

The company now holds 4,855 BTC, valued at roughly ¥62.17 billion (around $414 million), and its average cost per coin stands at ¥12.8 million, or about $85,386.

Metaplanet CEO CEO Simon Gerovich highlighted the firm’s performance following the purchase. He reported a Q2 BTC yield of 12.1% and a year-to-date yield of 119.3%, aiming for a consistent 35% quarterly return.

He emphasized the firm’s commitment to maximizing Bitcoin per share (BPS), calling BTC yield the most crucial metric for treasury-focused crypto companies.

Gerovich also addressed the macroeconomic backdrop fueling the firm’s aggressive BTC acquisitions. According to him, the top crypto offers protection against fiat currency dilution, especially amid the continued expansion of the global money supply.

He said:

“M2 refers to the money supply that central banks continue to expand. The more money is printed, the more our purchasing power diminishes. Bitcoin was created to resist this. That is why Metaplanet continues to buy Bitcoin.”

Bitcoins Strategy’s Bitcoin acquisition

Meanwhile, Strategy (formerly known as MicroStrategy) revealed it had purchased approximately 6,556 BTC for $555.8 million.

Following this purchase, Strategy’s total holdings reached 538,200 BTC. The company has spent about $36.47 billion, averaging $67,766 per coin. Its year-to-date BTC yield for 2025 currently stands at 12.1%.

According to an April 21 filing with the US Securities and Exchange Commission (SEC), the latest purchase was funded through selling 1.76 million shares of its Class A common stock and over 91,000 shares from a preferred stock series labeled STRK. These sales generated $547.7 million and $7.8 million, respectively.

Chairman Michael Saylor noted that more than 13,000 institutions and over 800,000 retail investors hold shares of Strategy. He added that roughly 55 million people are indirectly exposed to the company’s Bitcoin position through mutual funds, pension plans, ETFs, and insurance products.

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