Metaplanet's Bitcoin Holdings Surpass $3 Billion Following $450 Million Purchase

Metaplanet has announced a significant boost to its Bitcoin assets, crossing the $3 billion threshold after acquiring 4,279 Bitcoin for approximately $451 million. This move solidifies the Tokyo-listed company’s strategy of treating Bitcoin not just as a trading tool but as a key treasury asset, complemented by a performance in its Bitcoin Income Generation business that has significantly surpassed expectations.

Key Takeaways

Metaplanet's Bitcoin holdings have reached over $3 billion after a recent purchase of 4,279 BTC.
The company’s strategy emphasizes Bitcoin as a long-term treasury asset, leading to revenues from its Bitcoin Income Generation business skyrocketing.
Operating revenue for this segment is projected to hit approximately $54 million for fiscal year 2025, far exceeding earlier forecasts.
The company is leveraging capital markets for expansion, including Bitcoin-backed credit facilities and a new program for U.S. investors.

Metaplanet Bitcoin Stack Hits $3B After $450M Spree — Revenue Soars

Metaplanet's Bitcoin Acquisitions and Revenue Growth

Metaplanet has successfully increased its Bitcoin holdings to beyond $3 billion following a major acquisition, reinforcing its commitment to a hybrid model that combines a Bitcoin treasury with income-generation operations.

On December 30, the company revealed it had acquired an additional 4,279 Bitcoin at a total expense of around $451 million, raising its total assets to 35,102 BTC. At current market values, this portfolio is approximately worth $3 billion, establishing Metaplanet as one of the world’s largest publicly traded holders of Bitcoin.

The latest purchase was completed at an average price of ¥16.33 million per Bitcoin, bringing the firm's total cost basis to ¥559.73 billion, or an average of ¥15.95 million each.

Bitcoin Strategy Fuels Income Growth

The latest acquisition capped off a quarter characterized by continued Bitcoin accumulation, driven by both direct market acquisitions and activities tied to Bitcoin options. Metaplanet's strategy signifies its longstanding intent to treat Bitcoin as a foundational treasury asset instead of merely a short-term investment.

In addition to expanding its treasury, Metaplanet reported that revenue from its Bitcoin Income Generation business has greatly exceeded initial expectations. In a regulatory filing, the firm projected operating revenue from this segment to reach ¥8.58 billion (approximately $54 million) for fiscal year 2025. This figure dramatically surpasses earlier estimates of ¥3.0 billion and the updated forecast from October of ¥6.3 billion.

Bitcoin Income Generation Progress

The income generation sector employs option-based strategies, utilizing a dedicated portion of its Bitcoin to produce recurring cash flow. According to Metaplanet, these activities are entirely separate from its long-term Bitcoin assets, which the company intends to hold indefinitely. Revenue comes from option premiums and trading results, and while profits generated may eventually be added to long-term reserves, the principal Bitcoin holdings remain off-limits.

Despite the positive news, Metaplanet's stock price was trading at ¥405 on Tuesday, reflecting a nearly 8% drop for the day.

Revenue Performance and Market Strategy

The growth in Metaplanet's revenue has shown a sharp acceleration over the past year, with income from Bitcoin operations increasing from ¥691.6 million in the final quarter of fiscal 2024 to ¥770.3 million in the first quarter of fiscal 2025. This figure continued to climb to ¥1.13 billion in the second quarter, ¥2.44 billion in the third, and ultimately reaching ¥4.24 billion by the fourth quarter.

Over this time frame, the compounded quarterly growth rate has averaged about 57%, with the most robust increases occurring during the latter half of the year.

Metaplanet Bitcoin Holdings Growth

Metaplanet formally began its broader Bitcoin strategy in December 2024, designating treasury operations as a fundamental part of its business model. Since then, the firm has expanded its Bitcoin assets from approximately 1,762 BTC at the end of 2024 to more than 35,000 BTC by late December 2025.

To support its growth initiatives, Metaplanet has heavily utilized capital markets. In the fourth quarter, it engaged in Bitcoin-backed credit facilities amounting to $280 million as part of a larger $500 million program. The company also raised ¥21.25 billion through Class B preferred shares sold to international institutional investors, while fully redeeming previously issued ordinary bonds.

The increasing exposure has garnered international interest, prompting Metaplanet to recently introduce a sponsored American Depositary Receipt program designed to facilitate U.S. investors' access to its shares.