Metaplanet Expands Bitcoin to 30,823 BTC, Fourth-Largest Holder

Metaplanet, a Tokyo-listed investment company, said on Wednesday it acquired an additional 5,268 Bitcoin in the third quarter, bringing its total holdings to 30,823 BTC and making it the fourth-largest corporate Bitcoin holder. The purchase, made at an average price of about 17.39 million yen per coin, cost roughly 600 million yen and raises the companys Bitcoin portfolio value to about 3.6 billion yen, the company said.

Metaplanet began converting part of its balance sheet into Bitcoin in April 2024 and has scaled accumulation rapidly. The company said its aggregate cost basis for the full holding is about 108,000 yen per coin and that the position shows an unrealized gain of more than 7.5 percent. The latest acquisition followed a record buy nine days earlier and pushed Metaplanet past several peers in corporate treasury rankings, according to data tracking corporate treasuries.

Company filings and investor communications show the Bitcoin strategy has been a principal driver of recent revenue growth. Metaplanet reported third-quarter revenue of 2.438 billion yen, an increase of 115.7 percent from the prior quarter, and said its Bitcoin-related income streams were the main...