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Metaplanet Buys 2,823 Bitcoin, Expands Treasury to 43,000 BTC

The Japanese company is now the third-largest publicly traded Bitcoin holder, behind Strategy and Twenty One Capital. Its Bitcoin options division is also already bringing in millions in revenue.

By Zenz van der Wielen
• 2 min read
Metaplanet Buys 2,823 Bitcoin, Expands Treasury to 43,000 BTC

Key Takeaways

  • Metaplanet bought 2,823 Bitcoin worth $170.7 million, bringing its treasury to 43,000 BTC.
  • That puts the Japanese company in third place among publicly traded Bitcoin holders worldwide, behind Strategy and Twenty One Capital.
  • The Bitcoin Income Generation division posted about 1.75 billion yen in operating revenue in the second quarter of fiscal 2026.

Metaplanet has added another large Bitcoin purchase, buying 2,823 BTC for $170.7 million (€150 million) and lifting its balance sheet holdings to 43,000 BTC. At current prices, that stash is worth about $2.6 billion (€2.3 billion). The latest buy further cements Metaplanet’s place among the most aggressive public companies pursuing a Bitcoin strategy.

Third-Largest Public Holder

According to data from Bitcoin Treasuries, Metaplanet now ranks as the third-largest publicly traded Bitcoin holder in the world. Only Strategy and Twenty One Capital sit ahead of the Tokyo-based firm. Investors appeared to take notice, with the stock ending Thursday 3.5 percent higher at 207 yen, or $1.28 (€1.12).

The move also reflects how the company has broadened its approach. Metaplanet has increasingly tied its business model to Bitcoin, pairing treasury accumulation with income from derivatives. That sets it apart from many other public buyers, which are mainly focused on building BTC reserves. It also fits into the wider trend of institutional demand for Bitcoin, as companies and funds continue to gain exposure through balance sheets and investment products.

Revenue From Bitcoin Options

Metaplanet also published the second-quarter results for fiscal 2026 from its Bitcoin Income Generation division alongside the new purchase. The unit generated about 1.75 billion yen, or $10.85 million (€9.5 million), in operating revenue during the quarter. For the first half of the year, revenue totaled roughly 4.72 billion yen.

The company uses Bitcoin options to bring in recurring income while continuing to grow its BTC holdings. Over the past 12 months, that business has produced about 11.4 billion yen in revenue. In other words, Metaplanet’s Bitcoin play is not just about accumulating more coins, but also about building a separate revenue stream around them.

Relevant for European Investors

For European crypto investors, Metaplanet stands out because it shows how a listed company can combine Bitcoin exposure with an operating business model. That kind of structure can influence how crypto companies are valued and how investors think about Bitcoin on corporate balance sheets. It also serves as another reminder that institutional demand for BTC is coming not only from the U.S., but from Asia as well.

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