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Metaplanet bought 5,075 bitcoin in the first quarter of 2026 for about $405.5 million, lifting its treasury to 40,177 BTC by March 31. The Tokyo-based firm now ranks third among publicly traded bitcoin holders worldwide, behind Strategy and Tether-backed Twenty One. CEO Simon Gerovich disclosed the update on Thursday. Meanwhile, Metaplanet shares fell nearly 2% to 302 yen.
The company bought the quarter’s bitcoin at an average price of about $79,898 per coin, according to a company notice. Its total bitcoin investment now stands near $4.2 billion. Across all purchases, the average acquisition price reached $104,106 per bitcoin.
At the same time, Metaplanet said its bitcoin income business generated 2,969 million yen, or about $18.6 million, in sales during the quarter. The business used options strategies to lower effective acquisition costs. In turn, that revenue supported additional bitcoin purchases.
The company reported a BTC Yield of 2.8% for the three months ended March 31, 2026. That metric tracks the change in bitcoin holdings relative to fully diluted shares outstanding. BTC Gain, which adjusts bitcoin growth for dilution, came in at 876. In the prior quarter, that figure stood at 3,672.
Last month, Metaplanet announced $531 million in added funding capacity for its long-term plan to acquire 210,000 BTC. At the same time, it expanded deeper into digital assets. The company established venture capital and asset management subsidiaries and made strategic investments in the Japanese stablecoin JPYC.
For fiscal 2025, Metaplanet posted a non-operating impairment loss of 104.6 billion yen, or about $680 million, tied to bitcoin price volatility. Even so, it raised its revenue outlook to 8.58 billion yen from 6.8 billion yen. The company cited stronger-than-expected performance from its bitcoin income business.
Can Metaplanet maintain this pace as it pursues 210,000 BTC by the end of 2027? The company’s stated target equals roughly 1% of bitcoin’s fixed supply. Based on its current pace, reaching that goal would require continued capital raising and income operations across seven more quarters.
Read More: Metaplanet Launches Bitcoin Venture Arm as Japan Shifts
Earlier in the quarter, Metaplanet raised fresh capital twice through private placements. On January 29, 2026, its board approved the issuance of 24,529,000 shares and warrants to overseas institutional investors. The company priced the deal at 499 yen per share and raised about 12.24 billion yen.
Later, on March 16, Metaplanet issued another 107,368,000 shares at 380 yen per share. It closed the quarter on March 31 with proceeds of about 40.8 billion yen. Both financings directed most proceeds toward bitcoin purchases.
Metaplanet began buying bitcoin in April 2024, when it still operated as a small hotel and technology company with limited holdings. It started with 97.85 BTC, grew to 1,761 BTC by December 2024, and then reached 30,823 BTC by September 2025. After the Q1 2026 addition, its total climbed to 40,177 BTC. Its US-traded shares closed Wednesday up about 0.5% at $1.89, while Tokyo-listed shares closed Thursday, 4 April 2026, near that same level after the intraday drop.
Metaplanet expanded its bitcoin reserves to 40,177 BTC after a $405.5 million first-quarter purchase, securing third place among public bitcoin holders. The company also used fresh capital, income strategies, and broader digital asset moves to support its long-term plan to reach 210,000 BTC by 2027.
