Metaplanet has made its biggest bitcoin acquisition so far, spending about $632.5 million to buy 5,419 BTC. The Japanese bitcoin treasury firm confirmed the purchase on Monday, saying the average price was close to $116,724 per coin. With this move, Metaplanet now holds a total of 25,555 BTC, worth roughly $2.71 billion, at an average cost of $106,065 per bitcoin. The latest buy makes Metaplanet the fifth-largest public corporate holder of bitcoin, moving past Bullish and placing it behind Strategy, Mara, XXI, and Bitcoin Standard Treasury Company. Strategy, led by Michael Saylor, still holds the most with 638,985 BTC.
Metaplanet’s purchase comes after the company announced plans earlier this month to raise $1.4 billion by issuing 385 million new shares. The funds will go toward building its bitcoin treasury strategy. Alongside that, the board also approved a U.S. subsidiary, Metaplanet Income Corp., which will focus on bitcoin income generation through derivatives and related businesses. CEO Simon Gerovich said on X that the company is focused on scaling its role as a public corporate holder of bitcoin.
Metaplanet’s growing position has drawn comparisons to MicroStrategy, which remains the leading corporate buyer. Investors now see Metaplanet’s stock as tied to the long-term direction of bitcoin. The company’s stock in Japan dropped 0.5% midday Monday, according to Yahoo Finance, and is down 27.5% in the past month. Even so, it is still up more than 73% since the start of the year. Shares traded in the U.S. closed at $4.09 on Friday, up 3.81% on the day.
Metaplanet’s rise shows how more public companies are turning to bitcoin as part of their corporate reserves. Its bitcoin holdings have now surpassed Bullish, and its U.S. launch points to a broader plan to compete with other corporate bitcoin treasuries. The firm’s stock movement reflects how closely tied it has become to bitcoin’s price and the wider debate on institutional bitcoin investment.
