Metaplanet Acquires Over $600M in Bitcoin, Becomes Fourth Largest Corporate BTC Holder

Japanese investment firm Metaplanet has announced the acquisition of an additional 5,268 BTC, valued at approximately ¥91.6 billion ($623 million), bringing its total Bitcoin holdings to 30,823 BTC. The latest purchase was made at an average price of about $118,328 per coin, positioning Metaplanet as the fourth-largest publicly traded Bitcoin treasury company globally, trailing only Strategy, Marathon Digital Holdings, and Tesla.

Aggressive accumulation strategy

Metaplanet has rapidly scaled its Bitcoin accumulation since it began adding BTC to its balance sheet in April 2024. The company surpassed the Bitcoin Standard Treasury Company in corporate holdings, according to data from BitcoinTreasuries.NET. With total holdings now worth approximately $3.6 billion, acquired at an average price near $108,000 per coin, the company reports an unrealized profit exceeding 7.5%.

According to CEO Simon Gerovich, Metaplanet’s Bitcoin Yield, a metric indicating the ratio of total BTC holdings to fully diluted shares, surged to 309.8% in late 2024, reflecting rapid BTC accumulation relative to share dilution. Although that figure has since stabilized to 33% in 2025, the company continues to pursue its Bitcoin Treasury strategy.

Financial performance and strategic outlook

Metaplanet reported Q3 2025 revenues of ¥2.438 billion ($16.5 million), marking a 115.7% increase from Q2. This growth, primarily driven by its Bitcoin Income Generation segment, has led the company to revise its full-year guidance:

• Revenue: ¥6.8 billion ($46.26 million), up from ¥3.4 billion ($23.13 million)
• Operating profit: ¥4.7 billion ($31.97 million), up from ¥2.5 billion ($17.01 million)

Gerovich emphasized that these results “demonstrate operational scalability and strengthen the financial foundation for our planned Metaplanet preferred share issuance,” which will fund future Bitcoin purchases.

The company is also planning to raise $1.4 billion through a new share issuance and has recently established a U.S. subsidiary, Metaplanet Income Corp., to support its expanding Bitcoin income generation activities, particularly in derivatives and related markets.

Corporate BTC landscape

Metaplanet’s aggressive BTC acquisition strategy aligns with a broader trend of institutional Bitcoin adoption. According to BitcoinTreasuries.NET, over 1 million BTC (roughly $116 billion) are held by public companies, representing about 4.7% of Bitcoin’s total supply. Including holdings by ETFs, governments, and private firms, total treasury-held BTC now exceeds 3.8 million coins, valued at over $442 billion.