Japanese bitcoin treasury firm Metaplanet announced on Monday that it had purchased 5,268 BTC for 91.6 billion yen ($623 million), bringing its total bitcoin reserves to 30,823 BTC. The latest acquisition was executed at an average price of 17.4 million yen ($118,328) per coin, according to CEO Simon Gerovich.
The purchase cements Metaplanet’s position as the fourth-largest publicly traded bitcoin holder, ranking behind only Strategy, MARA Holdings, and XXI. The move underscores the company’s aggressive treasury strategy, which has rapidly expanded in recent months.
This latest buy follows a $632 million bitcoin acquisition in September, Metaplanet’s largest single purchase to date. The back-to-back purchases signal the company’s long-term commitment to positioning bitcoin as its core reserve asset.
Strong Growth and Treasury Strategy
Alongside its bitcoin accumulation, Metaplanet reported third-quarter revenue of 2.438 billion yen ($16.5 million)—a 115.7% increase from Q2. Gerovich emphasized that the results highlight both operational scalability and financial resilience, setting the stage for expanded treasury initiatives.
Metaplanet has also unveiled plans to raise $1.4 billion through the issuance of 385 million new shares, with proceeds dedicated primarily to bitcoin acquisitions. Additionally, the company has established a U.S. subsidiary, Metaplanet Income Corp., to scale its “bitcoin income generation” line, which will focus on derivatives and related financial activities.
Key strategic developments include:
- $620M bitcoin purchase, raising holdings to 30,823 BTC.
- Q3 revenue surged 115.7% quarter-over-quarter.
- $1.4B share issuance to fund future BTC acquisitions.
- Launch of U.S. subsidiary for bitcoin-related financial services.
Stock Market Reaction and Outlook
Despite Metaplanet’s aggressive expansion, its Tokyo-listed stock fell 10.26% on Monday, according to Yahoo Finance data, extending a 38% decline over the past month. However, year-to-date performance remains positive, with shares up 48.3% in 2024.
In contrast, U.S.-traded shares of MTPLF rose 8.86% to $3.96 on Tuesday, reflecting stronger investor optimism in overseas markets. Analysts suggest that volatility may persist as the firm continues its rapid bitcoin accumulation strategy, but its treasury focus positions it uniquely within global capital markets.
Metaplanet’s accelerated purchases place it firmly among the elite class of corporate bitcoin holders, reinforcing the narrative of digital assets as a strategic reserve for publicly traded firms. With planned capital raises and a growing U.S. footprint, the company is betting heavily on bitcoin’s role in long-term financial resilience.
Sources & Methodology
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