Metaplanet’s purchase of 5,075 BTC▼$65,445.00 in Q1 lifts the firm to the third‑largest public Bitcoin treasury, making it more exposed to price swings.
Japanese Bitcoin treasury firm Metaplanet said it bought 5,075 BTC in Q1 of 2026 for 63.6 billion yen (about $406 million), at an average price of 12.5 million yen (around $80,000) per BTC, lifting its total holdings to 40,177 BTC.
The firm’s chief executive Simon Gerovich also said in an X post on April 2 that Metaplanet’s year-to-date BTC Yield was 2.8%, a metric it uses to show how much BTC it holds per diluted share.
With the latest purchase, Metaplanet has become the third-largest public Bitcoin treasury firm in the world, next only to Twenty One Capital (43,514 BTC) and Strategy (762,099 BTC), per data from BitcoinTreasuries.
That scale highlights both the potential upside and the risks of investing in Bitcoin, since shares in BTC-focused companies can swing sharply depending on market sentiment.
For instance, not every Bitcoin treasury firm is stacking BTC right now. In March, Nakamoto Holdings, the company led by Bitcoin Magazine publisher David Bailey, sold 284 BTC for approximately $20 million to fund business operations.
What is Metaplanet
The Tokyo-listed firm was incorporated on June 11, 1999, originally running a hotel in Tokyo and other non-crypto businesses. It now describes itself as Japan’s first and only publicly listed Bitcoin treasury company.
Metaplanet pivoted to Bitcoin in 2024, officially adding Bitcoin treasury operations as a business line on Dec. 18, 2024, while continuing to operate its hotel and holding the Japan license for Bitcoin Magazine.
For those still wondering how does Bitcoin work, the firm’s model seems to be pretty straightforward: treat BTC as a reserve asset and fund new purchases through a mix of capital markets and options revenue.
What Metaplanet’s Purchase Means for Investors
For traders, such a purchase is the big hook. In practice, Metaplanet has become a more aggressive listed bet on Bitcoin itself, with the firm potentially dealing with the risks of investing in Bitcoin should the cryptocurrency’s price keep getting lower.
As Reuters reported earlier, crypto treasury firms tend to sell shares or issue debt to fund buying, making their stocks move more sharply than Bitcoin when sentiment turns.
Even after the buy, Metaplanet’s MTPLF shares are still down almost 30% so far this year, according to Google Finance.
