Tokyo-listed Metaplanet has made headlines with its acquisition of 5,419 Bitcoin, valued at approximately $632.53 million, propelling the company to the status of the world’s fifth-largest corporate Bitcoin holder. As the Bitcoin market currently fluctuates below $113,000, the purchase signifies a strategic move in the ever-evolving landscape of corporate treasury operations.
According to a disclosure filed with the Tokyo Stock Exchange, Metaplanet secured the Bitcoin at an average price of $116,724 per coin. This latest buy increases the company’s total Bitcoin holdings to 25,555 BTC, amassed at a total cost of $2.7 billion, giving it an average cost basis of $106,065 per Bitcoin. Dylan LeClair, Metaplanet’s head of Bitcoin strategy, emphasized on X (formerly Twitter) that this acquisition is merely the “first tranche” of a broader dollar-based strategy, backed by the company’s recent capital raise of $1.4 billion earmarked specifically for Bitcoin acquisitions.
This latest acquisition of Bitcoin pushes Metaplanet past Bullish, positioning it as the fifth-largest corporate holder globally, only behind Strategy, Marathon Digital, XXI, and Bitcoin Standard Treasury Company. The surge in corporate Bitcoin acquisitions continues to gain momentum, reflecting a broader trend as new companies enter the market on a nearly daily basis.
Metaplanet is making significant strides toward its ambitious goals, having achieved 85.2% of its year-end 2025 target of 30,000 BTC and advancing towards a 2026 target of 100,000 coins. The company has posted strong performance metrics, with its BTC Yield—a metric indicating Bitcoin holdings relative to fully diluted shares—reaching impressive figures of 95.6% in the first quarter of 2025 and 129.4% in the second quarter.
The acquisition was funded primarily through proceeds from a recent international share offering, which raised about $1.4 billion, out of which $1.25 billion was specifically designated for Bitcoin purchases. With this initial transaction consuming $632.53 million, Metaplanet has laid the groundwork for further expansions in its cryptocurrency treasury.
The rise in corporate Bitcoin holdings is part of a larger market trend, with total institutional holdings of Bitcoin surpassing 1 million BTC, which accounts for roughly 5% of the cryptocurrency’s circulating supply. This increase has been particularly noticeable since the beginning of 2025, as several companies, including BitMine and Forward Industries, have entered the cryptocurrency space.
In addition to its Bitcoin acquisitions, Metaplanet has taken steps to broaden its operational footprint by establishing Metaplanet Income Corp., a Miami-based subsidiary with an initial capital of $15 million. This entity will oversee derivatives operations independently from treasury activities, thereby improving governance and risk management.
While the strategic acquisition is noteworthy, Bitcoin’s market performance has faced challenges, with prices trading below $113,000 after recent peaks above $117,000. Furthermore, Metaplanet is strengthening its presence in Japan with the launch of Bitcoin Japan Inc., a subsidiary focused on managing media, events, and related services for Bitcoin. The acquisition of the Bitcoin.jp domain name also represents a significant strategic move.
As institutional adoption of Bitcoin continues to accelerate, the dynamics of corporate treasury operations are rapidly shifting. With companies like Metaplanet spearheading this movement, the integration of Bitcoin into corporate balance sheets is setting new standards for treasury management practices in the institutional landscape.
