Metaplanet Vaults to Fourth-Largest Public Bitcoin Holder with $615M Buy, Eyes 1% of Global Supply by 2027

Japanese Firm’s Aggressive Bitcoin Strategy Boosts Crypto Price Index Impact, Secures 30,823 BTC Holdings

TL;DR:

• Metaplanet purchased 5,268 BTC for ¥91.6 billion (~$615M), reaching 30,823 BTC in total holdings.
• Now ranks as the 4th-largest public company Bitcoin holder, behind Strategy Inc., MARA, and XXI.
• Long-term ambition includes acquiring 1% of the total Bitcoin supply by 2027, using equity financing.

Metaplanet, the Tokyo-listed company undergoing a full-scale pivot into Bitcoin treasury strategy, confirmed a landmark purchase of 5,268 BTC valued at ¥91.6 billion, approximately $615 million. 

The announcement, made October 1, 2025, reveals the firm’s intensified commitment to Bitcoin accumulation and propels its total holdings to 30,823 BTC—elevating it to the fourth-largest publicly traded Bitcoin holder globally. At current market prices, that translates to nearly $3.33 billion in value, placing the firm just behind Strategy Inc. (formerly MicroStrategy), MARA Holdings, and XXI in the corporate coin market cap leaderboard.

The latest tranche was acquired at an average of ¥17.4 million per BTC (around $118,328), showcasing Metaplanet’s ongoing willingness to accumulate even as the crypto price hovers near cycle highs. CEO Simon Gerovich framed the move as part of the company’s broader treasury roadmap, noting that strong Q3 operational results laid the foundation for the purchase. “Q3 results demonstrate operational scalability and strengthen the financial foundation for our planned Metaplanet preferred share issuance,” Gerovich stated, underscoring the firm’s intention to raise capital without selling its BTC reserves.

This is Metaplanet’s second major purchase within weeks. On September 22, the firm acquired 5,419 BTC for roughly $632.5 million, securing 85.2% of its 2025 goal of 30,000 BTC. That earlier acquisition was priced at an average of $116,724 per coin. Alongside these moves, Metaplanet’s Bitcoin Income unit reported ¥2.438 billion (~$16.5 million) in revenue for Q3 2025, marking a 115.7% quarter-over-quarter jump. This performance prompted a revision in full-year guidance, doubling the firm’s revenue projection from ¥3.4 billion to ¥6.8 billion (~$46 million), and lifting expected operating profit from ¥2.5 billion to ¥4.7 billion (~$32 million).

Institutional investors have taken notice. Capital Group, a global investment firm with over $2.6 trillion in assets under management, has become Metaplanet’s largest shareholder, acquiring an 11.45% stake reportedly valued at $500 million. As confidence in the company's strategy builds, so does its ambition: Metaplanet has publicly set a goal to acquire 1% of the total Bitcoin supply—approximately 210,000 BTC—by 2027. Achieving that milestone would require nearly a sevenfold increase from current holdings, a feat the company aims to accomplish through continued equity raises and financial instruments without offloading any of its crypto assets.

The firm’s aggressive pivot toward Bitcoin began in 2024, transitioning from its former focus on hospitality and media. Its strategy mirrors the early playbook of Strategy Inc., positioning Bitcoin not just as a balance sheet hedge, but as the company’s core strategic identity. To support operational and yield-focused initiatives, Metaplanet has also established a U.S.-based subsidiary—Metaplanet Income Corp—in Miami with $15 million in capital. The unit, led by Gerovich, Dylan LeClair, and Darren Winia, is tasked with pursuing derivative and yield strategies to monetize the Bitcoin stack without compromising core holdings.

By separating yield-generating operations from treasury holdings, the firm is also aiming to insulate itself from potential regulatory and market risks. The structure allows for exposure to U.S. financial products while keeping the parent company’s treasury intact. This nuanced bifurcation reflects a maturing corporate strategy rarely seen in the Bitcoin space and may position Metaplanet as a blueprint for future Bitcoin-native public companies.

While critics point to the volatility of crypto price swings and the risks of overexposure to a single asset, Metaplanet is doubling down. Its management maintains a policy of never selling Bitcoin, instead tapping capital markets to finance expansion. That approach positions its crypto reserves as a long-term, untouchable asset base—one whose influence on the broader crypto price index and coin market cap rankings will likely grow if its 2027 goals remain on track.

This article has been refined and enhanced by ChatGPT.