Metaplanet Becomes Fifth-Largest Corporate Bitcoin Holder

Japanese Bitcoin treasury firm Metaplanet has overtaken mining company CleanSpark to become the world’s fifth-largest corporate holder of BTC after purchasing an additional 1,005 BTC for $108 million. 

The firm now holds 13,350 BTC, acquired at an average cost of around $97,832 per BTC, bringing its total investment to $1.31 billion. At current market prices, Metaplanet’s BTC treasury is valued at approximately $1.45 billion.

The latest purchase has allowed Metaplanet to surpass CleanSpark’s 12,502 BTC holdings, as tracked by BiTBO, and move ahead of Tesla, Hut 8, Coinbase, and Block Inc. in terms of Bitcoin treasury size. It now trails only MicroStrategy, Marathon Digital, Twenty One Capital, and Riot Platforms.

Metaplanet CEO Simon Gerovich stated that the average price for its recent acquisition was $107,601 per BTC, and the firm has recorded a year-to-date BTC yield of 349%.

Strategic Bond Refinancing Fuels Major Bitcoin Accumulation

The purchase follows Metaplanet’s announcement of a bond refinancing strategy to fund its Bitcoin acquisitions. The firm issued 30 billion yen ($208 million) in 0% ordinary bonds through its EVO fund to secure additional BTC while simultaneously buying back and canceling its third series of ordinary bonds worth 1.75 billion yen ($12 million), which carried a 0.36% annual interest rate.

By issuing zero-interest bonds and canceling previous debt, Metaplanet has effectively secured an interest-free cash float for its continued BTC accumulation. “Funds raised through the issuance of the new bonds will be partially allocated to the buyback and cancellation, with the remainder used for the purchase of Bitcoin,” the company stated in its disclosure.

This refinancing approach aligns with Metaplanet’s recently revised BTC accumulation strategy, which now targets 100,000 BTC by 2026, significantly higher than its previous target of 21,000 BTC.

Metaplanet Outlines Bold Expansion Plans

Metaplanet has further outlined plans to raise $5.4 billion to acquire up to 210,000 BTC by 2027, positioning itself as the potential second-largest corporate Bitcoin holder globally if current rankings remain unchanged.

The aggressive expansion strategy has been well received by the market, with Metaplanet’s stock price jumping 9% on Monday in Japan and soaring over 350% since the beginning of 2025, according to Google Finance data.

Meanwhile, MicroStrategy founder Michael Saylor hinted at another Bitcoin purchase, posting, “In 21 years, you’ll wish you’d bought more,” to which Gerovich responded, “We buy every day. And still, I know I’ll look back wishing we had moved even faster.”