Japanese bitcoin treasury company Metaplanet has purchased 5,268 BTC for 91.6 billion yen (US$623 million), raising its total holdings to 30,823 BTC.
The acquisition, priced at approximately 17.4 million yen (US$118,300) per bitcoin, positions the company as the world’s fourth-largest publicly traded bitcoin treasury, trailing only Strategy, MARA Holdings, and XXI, according to CEO Simon Gerovich.
The firm’s aggressive accumulation strategy has intensified over the past year.
From holding just 748 BTC in October 2024, Metaplanet grew its reserves to 1,761 BTC by December.
The pace accelerated in 2025 with purchases including 2,391 BTC in March, 5,555 BTC in May, and a record 11,111 BTC in June.
The latest acquisition exceeds the company’s stated annual goal of 30,000 BTC, reflecting a deliberate approach to scaling its digital asset portfolio.
Source: bitcointreasuries.net
Metaplanet reported Q3 revenue of 2.438 billion yen (US$16.5 million), marking a 115.7% increase from the previous quarter.
CEO Simon Gerovich highlighted that these results “demonstrate operational scalability and strengthen the financial foundation for our planned Metaplanet preferred share issuance, which supports our broader Bitcoin Treasury strategy.”
In September, the company announced plans to raise US$1.4 billion through the issuance of 385 million new shares, with proceeds earmarked for further bitcoin purchases.
The board also approved the establishment of Metaplanet Income Corp. in the US to expand bitcoin income generation through derivatives and related activities.
Metaplanet is broadening its strategy to include collateralising bitcoin for cash flow assets such as Japanese digital banks.
New subsidiaries like Bitcoin Japan Inc. are set to manage derivatives, trading operations, community engagement, and media outreach.
Capital Group recently became the largest shareholder with an 11.45% stake valued at nearly US$500 million.
Despite rapid growth, Metaplanet’s stock fell 10.26% on 1 October in Japan and remains down 38% over the past month, though it has gained 48.3% year-to-date.
The company’s market capitalisation currently stands at 588.74 billion yen, with a P/E ratio of 59.74, reflecting high growth expectations.
Metaplanet’s sustained bitcoin purchases echo similar strategies by U.S.-based MicroStrategy and signal growing interest among institutional investors in Japan and Asia.
While critics warn of bitcoin’s volatility and regulatory uncertainties, proponents see its potential as a hedge against inflation and economic risk.
Analysts suggest that Metaplanet’s latest purchase may encourage other corporations in the region to explore integrating bitcoin into their treasury operations.
With over 30,000 BTC now under its management, Metaplanet has solidified its position as a key player in the global bitcoin treasury landscape, combining aggressive acquisition, revenue growth, and strategic expansion into complementary businesses.
US regulators are investigating over 200 companies for unusual stock trading ahead of crypto-treasury announcements, suspecting possible insider leaks. The SEC and FINRA are checking compliance with disclosure rules, with potential fines and sanctions if violations are found.
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