Japanese publicly traded company Metaplanet has significantly expanded its Bitcoin reserves, purchasing an additional 2,823 BTC, according to a July 2 disclosure. This acquisition raises the firm’s total Bitcoin holdings to 43,000 BTC, cementing its position among the largest corporate holders of the cryptocurrency.
The latest purchase was executed at an average price of 12.7 million yen per coin, bringing Metaplanet’s overall average acquisition cost to 15.3 million yen per Bitcoin. The company had ended the first quarter of 2026 with 40,177 BTC, valued at roughly $4.18 billion at an average cost of $104,000 per coin.
The move is part of Metaplanet’s long-term strategy to use digital assets as a treasury management tool. The company has set an ambitious target of holding 210,000 BTC—approximately 1% of Bitcoin’s fixed supply—by the end of 2027. To reach that goal, it plans to accumulate an additional 170,000 BTC beyond the current position.
However, the positive treasury expansion comes alongside a sharp decline in Metaplanet’s Bitcoin Income Generation business. The unit reported operating revenue of ¥1.747 billion for the second quarter of fiscal year 2026, a 41% drop from ¥2.969 billion in the previous quarter and well below the ¥4.242 billion recorded in the fourth quarter of 2025. For the first half of FY2026, revenue totaled ¥4.717 billion, while trailing-twelve-month revenue improved to ¥11.396 billion from ¥10.780 billion, reflecting earlier strong performance.
Metaplanet’s stock has been under pressure, recently touching a 52-week low. Investor focus remains on the company’s net asset value (NAV) relative to its Bitcoin holdings. CEO Simon Gerovich stated on June 9 that management would strongly consider common share buybacks if the company traded below the value of its underlying Bitcoin assets, though he clarified this was not a formal announcement.
Beyond accumulation, Metaplanet is building a Bitcoin-focused financial ecosystem. On June 12, it announced the acquisition of Siiibo Securities for ¥2.1 billion, a move that will convert the Japanese firm into a wholly owned subsidiary to be renamed Metaplanet Securities. The deal, part of the “Project Nova” initiative, gives Metaplanet a Type I Financial Instruments Business Operator license in Japan and opens the door to Bitcoin-linked investment products and yield-focused offerings. The company is also pursuing Japan’s first listed perpetual preferred share product while developing systems for recurring dividend distributions.
Market experts see Metaplanet’s continued Bitcoin purchases as a strong signal of institutional confidence, even if short-term price impacts are limited. Analysts note that similar accumulation trends across public companies could further legitimize Bitcoin as a strategic reserve asset in traditional finance.
