Key Notes
Metaplanet surpassed Bullish to become 5th largest corporate Bitcoin holder.
The company holds 25,555 BTC worth nearly $3 billion, with $290M in unrealized profit.
Stock faces institutional short pressure but US-listed shares remain up 80% YTD.
Tokyo-listed Metaplanet is now ranked among the global top five corporate Bitcoin holders after announcing its latest acquisition. On Sept. 22, the company revealed it had purchased 5,419 BTC worth approximately $632 million at an average price of $116,724 per coin.
With this, Metaplanet’s total treasury climbed to 25,555 BTC, valued at nearly $3 billion, overtaking Bullish exchange according to Bitcoin Treasuries data.
Bitcoin Acquisition Pushes Metaplanet Into Top Five
The milestone cements Metaplanet’s position just behind leading players such as MicroStrategy, Marathon Digital, XXI, and Bitcoin Standard Treasury Company.
Metaplanet has acquired 5419 BTC for ~$632.53 million at ~$116,724 per bitcoin and has achieved BTC Yield of 395.1% YTD 2025. As of 9/22/2025, we hold 25,555 $BTC acquired for ~$2.71 billion at ~$106,065 per bitcoin. $MTPLF pic.twitter.com/CBhZi2X9lE
— Simon Gerovich (@gerovich) September 22, 2025
Executives described the purchase as part of an accelerated strategy to achieve 30,000 BTC by the end of 2025 and 100,000 BTC by 2026.
Strong Profits Despite Stock Pressure
The company disclosed that it spent around $2.71 billion on its Bitcoin stash at an average cost of $106,065 per BTC. This leaves Metaplanet sitting on nearly $290 million in unrealized profit following the latest buy.
Year-to-date, the firm has recorded yields above 395%, with quarter-to-date returns at 10.3%.
However, the firm’s stock price has faced pressure, slipping nearly 0.5% to 605 JPY as Bitcoin prices remain volatile. Despite closing higher in recent sessions, Metaplanet shares are down more than 27% in the past month.
Expanding Ecosystem and New Ventures
Alongside its aggressive Bitcoin strategy, Metaplanet also launched subsidiaries in the US and Japan to scale its Bitcoin income generation business. It also raised $1.45 billion through an international share offering to support its long-term goals.
Domestically, Metaplanet acquired the Bitcoin.jp domain and set up Bitcoin Japan Co. to oversee new initiatives, including a Bitcoin-focused magazine, a major Bitcoin conference in 2027, and development of new Bitcoin-based products and services.
Related article: Bitcoin Price Analysis: Kalshi Bettors Predict 69% Chance of $125K Rally as BlackRock ETF Absorbs $3.1B
Executives said the domain will serve as a hub for investors and the broader public to engage with Japan’s Bitcoin ecosystem.
Bitcoin Drops to $114K
The purchase comes when Bitcoin recently slipped below $115,000, according to CoinMarketCap data. The cryptocurrency trades at $114,509 at press time with a 1.5% price drop in the past week and a 34.63% increase in volume in the past day.
Industry figures like MicroStrategy’s Michael Saylor have argued that Bitcoin’s declining volatility may be reducing short-term excitement but improving long-term stability for institutional entry.
“It’s like they had this big high and now the adrenaline is wearing off and they’re a little bearish,” Saylor added in an interview last week with the Coin Stories podcast.
