Metaplanet Expands Bitcoin Hoard with 5,075 BTC Purchase
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In a significant move for its growing treasury, Metaplanet Inc., recognized as Japan’s largest corporate holder of Bitcoin, announced a purchase of 5,075 BTC in the first quarter of 2026. This increase brings their total holdings to 40,177 BTC, acquired at an overall expenditure nearing $3.92 billion.
The Tokyo-based firm shared details of its acquisition on April 2, 2026, revealing that the transaction was finalized by March 31. The purchased Bitcoin came at a weighted average price ranging from approximately $78,000 to $79,898 per coin, resulting in a quarterly investment close to $398 million.
At the time of the announcement, Bitcoin values were around $66,400, rendering Metaplanet’s total holdings to approximately $2.67 billion. This figure indicates an unrealized loss of about 32% against their average cost basis, which is roughly $97,593 per Bitcoin.
Despite this gap, the company’s CEO, Simon Gerovich, maintains a forward-looking perspective on Bitcoin, treating it as a vital long-term reserve asset amidst Japan’s inflationary pressures and yen depreciation. Metaplanet’s steady acquisition strategy has been unwavering since pivoting their approach in April 2024.
The firm finances its Bitcoin purchases through a mix of capital raises, managing debts, and generating income from Bitcoin options trading linked to its current holdings. In Q1 2026, this income-revenue model yielded approximately 2.97 billion yen. After accounting for acquisition costs, Metaplanet calculated a net purchase price of around 11,955,713 yen per Bitcoin, aligning closely with the quarter’s volume-weighted average price as recorded on the Bitflyer exchange.
This recent acquisition has propelled Metaplanet to third place in the rankings of publicly traded companies based on Bitcoin holdings, surpassing MARA Holdings, which was reported to have around 38,689 BTC after liquidating part of its assets for debt management. Presently, only Strategy (MSTR) with 762,099 BTC and Twenty One Capital (XXI) at 43,514 BTC hold more Bitcoin.
Metaplanet reported a BTC Yield of 2.8% for the first quarter of 2026, reflecting the impact of substantial share issuances during the period. In comparison, the BTC Yield reported in Q1 2025 was significantly higher at 95.6%, attributable to the early stages of their accumulation efforts.
In the first quarter, Metaplanet secured funding through private placements on two occasions. On January 29, the company approved a share issuance of 24,529,000 shares and warrants at 499 yen per share, generating nearly 12.24 billion yen. Furthermore, on March 16, an additional issuance of 107,368,000 shares at 380 yen each brought total proceeds to approximately 40.8 billion yen. A significant portion of these funds is intended for Bitcoin acquisitions.
Initially, Metaplanet began its journey in Bitcoin acquisitions in April 2024, starting with just 97.85 BTC. By December 2024, holdings expanded to 1,761 BTC, experiencing rapid growth throughout 2025. By September of that year, total holdings surged to 30,823 BTC, culminating in this latest addition of 40,177 BTC in Q1 2026.
The company’s ambitious long-term objective is to achieve a holding of 210,000 BTC, marking approximately 1% of Bitcoin’s total supply by the end of 2027. Based on current trajectories, this goal will necessitate consistent capital raises and ongoing income operations over the next seven quarters.
As of April 2, 2026, Metaplanet shares were closing at around 302 yen, equating to about $1.89, reflecting a 2% decline in value within the trading day. This dip aligns with broader market trends rather than being a direct consequence of the announcement.
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