Metaplanet has just reached a milestone that very few companies can claim. The Japanese company purchased 5,075 bitcoins in the first quarter of 2026, bringing its hoard to 40,177 BTC. The move propels it to third place among the largest publicly traded Bitcoin treasuries, behind Strategy and Twenty One Capital.
In brief
- Metaplanet added 5,075 BTC in Q1 2026.
- Its stock reaches 40,177 BTC, a level which places it third in the world.
- Its Bitcoin strategy combines long-term accumulation and derived income.
A Bitcoin offensive that changes dimension
Metaplanet is no longer just buying bitcoin for image. It builds a model where BTC cash becomes the center of gravity of the company. In three months, Metaplanet put around $405 million on the table to acquire 5,075 BTC, with an average price close to $79,898 per bitcoin. With 40,177 BTC in reserve, the group is clearly changing category in the ecosystem of companies exposed to bitcoin.
This number matters beyond the symbol. Go above 40,000 BTC, it is no longer a position of conviction. It’s a logic of power. The more the reserve grows, the more Metaplanet establishes itself as a key player in listed Bitcoin finance, especially in Asia where it has already established itself as a central name.
This progression was also facilitated by the decline of other actors. Several publications indicate that Metaplanet has overtaken MARA in the ranking of corporate bitcoin holders, which has accelerated its rise to third place in the world. In this market, climbing does not only depend on your purchases. It also depends on the sales of others.
A model that is not based solely on purchasing
The other key point, often less visible, concerns the financial mechanics of the group. Metaplanet reported a BTC return of 2.8% since the start of 2026, an in-house metric that tracks the growth of bitcoin holdings per share. In other words, the company seeks to increase its exposure to bitcoin without reducing its performance to a simple price variation.
At the same time, the company generated 2.97 billion yen in quarterly revenue, or approximately $18.6 million, from its BTC-related business. This branch is based on options strategies backed by collateral and managed separately from the bitcoin reserve held over the long term. It is a two-story architecture, quite rare, and much more structured than a simple “buy and hold”.
This is where Metaplanet gets interesting. The company is trying to turn bitcoin into a reserve asset, but also a revenue driver. The capital produced by this activity can then be recycled towards new BTC purchases. Clearly, the group seeks to grow its stock of Bitcoin with money generated around Bitcoin itself.
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