Metaplanet Becomes Fifth-Largest Corporate Bitcoin Holder With $633M Buy

Japan-based investment firm Metaplanet has boosted its Bitcoin reserves, acquiring an additional 5,419 BTC in a single purchase and cementing its place as the world’s fifth-largest corporate holder of the cryptocurrency. 

The company disclosed on Monday that it bought the latest tranche at an average price of 17,281,012 Japanese yen (around $117,000) per Bitcoin, bringing its total holdings to 25,555 BTC.

The move, worth roughly $633 million, raises Metaplanet’s total Bitcoin treasury to nearly $3 billion at current market prices. However, the investment is down by about 3.9% at current market prices.

The company also reported that its Bitcoin yield—measured as the percentage change in total BTC per fully diluted share—grew 10.3% from July 1 to Sept. 22, underscoring an aggressive accumulation strategy despite short-term market fluctuations.

Metaplanet Stock Slump Adds Pressure

While its Bitcoin reserves have grown substantially, Metaplanet’s stock price tells a different story. Shares rose 3.8% on Monday but remain under pressure after tumbling more than 30% over the past month, according to Google Finance. Currently trading around $4.09, the stock is well off its May 21 all-time high of $15.35, even though it remains up nearly 78% year-to-date.

The declining share price threatens Metaplanet’s fundraising model, which relies heavily on equity issuance to support its Bitcoin acquisition strategy. Despite this, the company continues to double down on its long-term bet that Bitcoin will outperform traditional investments and deliver significant returns.

Expansion Efforts Continue

Earlier in September, Metaplanet unveiled two new subsidiaries to reinforce its growth plans. Metaplanet Income Corp., based in Miami with an initial capital of $15 million, is designed to strengthen the firm’s U.S. presence. Simultaneously, the launch of Bitcoin Japan Inc. aims to bolster domestic operations and provide a more robust platform for Bitcoin-related services in Japan.

To further increase its holdings, the company also announced plans to issue 385 million new shares at nearly a 10% discount, a move expected to raise about $1.44 billion. The capital will be used to expand its Bitcoin reserves and related business activities, signaling the company’s unwavering commitment to its Bitcoin-centric strategy despite ongoing market volatility and shareholder concerns.

With this latest acquisition, Metaplanet is betting that an aggressive Bitcoin accumulation will secure its position as a leading player in the global digital asset space, even as traditional market metrics flash warning signs.