Key Points
- Metaplanet acquired 5,075 BTC during Q1 2026, investing approximately $398 million with an average purchase price between $78,000 and $79,898 per Bitcoin.
- The company’s Bitcoin reserves now total 40,177 BTC, with a current market value ranging from $2.6 billion to $3.9 billion based on prevailing BTC prices.
- This acquisition elevated the Tokyo-based company above MARA Holdings, securing third position among global corporate Bitcoin treasuries.
- Strategy (MSTR) maintains its dominant position with more than 762,000 BTC in reserves; Twenty One Capital (XXI) holds second place with 43,514 BTC.
- Bitcoin experienced a decline exceeding 3% to approximately $66,395 during the trading session, while BTC futures open interest decreased 4.7% to $46.71 billion.
Metaplanet expanded its Bitcoin portfolio by 5,075 BTC during the first quarter of 2026, deploying around $398 million in the process. The company’s average acquisition cost for this batch stood at approximately $79,898 per Bitcoin.
This strategic acquisition elevated the firm’s cumulative Bitcoin position to 40,177 BTC. The Tokyo stock exchange-listed company has now invested approximately $4.18 billion in Bitcoin accumulation, establishing an average cost basis of roughly $104,106 per BTC.
Given Bitcoin’s current trading level near $66,395, Metaplanet is currently experiencing an unrealized deficit approaching $1.5 billion.
Nevertheless, the organization disclosed a BTC yield of 2.8% for the year-to-date period in 2026. The company also recorded operating revenue totaling JPY 2.96 billion from its Bitcoin Income Generation division throughout the quarter.
Chief Executive Officer Simon Gerovich announced the development on X, verifying the most recent acquisition and communicating directly with stakeholders.
Metaplanet Advances Beyond MARA Holdings
The first-quarter acquisition propelled Metaplanet ahead of MARA Holdings in worldwide Bitcoin treasury standings. MARA recently reduced its BTC holdings, creating an opportunity for Metaplanet to advance in the rankings.
Metaplanet currently occupies the third position globally. Twenty One Capital (XXI) maintains second place with 43,514 BTC. Strategy (MSTR) operates on an entirely different scale with holdings exceeding 762,000 BTC.
The differential between Metaplanet and Twenty One Capital stands at approximately 3,337 BTC, indicating that the second-place position remains within reach if the acquisition strategy persists.
Metaplanet has also restructured its capital allocation framework. The revised approach seeks to enhance BTC yield through perpetual preferred shares and proposes suspending common share issuance when mNAV drops below 1. The strategy additionally incorporates expanding share buybacks to optimize BTC yield.
Bitcoin Faces Downward Pressure Following Trump Statements
The equity decline coincided with a wider Bitcoin market correction. BTC decreased more than 3% to trade around $66,395, with the 24-hour price range spanning $66,226 to $69,131.
Bitcoin trading volume contracted by approximately 16% during the same timeframe.
President Donald Trump’s remarks regarding potential intensification in the US-Iran conflict contributed to market anxiety during the session.
BTC futures open interest on CME declined 0.82%. On Binance, the figure dropped 5.52%. Aggregate BTC futures open interest throughout the market fell 4.7% to approximately $46.71 billion, based on CoinGlass analytics.
Market participants appear to be exercising caution in advance of Friday’s Nonfarm Payrolls report and a scheduled cryptocurrency options expiration.
Metaplanet shares have declined over 6% during the past month and are down 25% year-to-date. The 24-hour trading band for the stock ranged from 298 to 313 JPY, with volume tracking below the typical average of approximately 30 million.
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