TLDR:
Metaplanet acquired 5,075 BTC worth $400M in Q1 2026, bringing total reserves to 40,177 Bitcoin globally.
The Tokyo firm overtook MARA Holdings to rank third, trailing only Twenty One Capital’s 43,514 BTC holdings.
Metaplanet’s Bitcoin Income Business generated $19.8M in Q1, cutting net acquisition cost by roughly $3,900 per BTC.
From under 2,000 BTC in early 2025, Metaplanet grew reserves by 2,180%, targeting 100,000 BTC by end of 2026.
Metaplanet, a Tokyo-listed investment firm, has acquired 5,075 BTC worth approximately $400 million in Q1 2026. This brings its total Bitcoin reserves to 40,177 BTC, valued at $2.7 billion.
The purchase places Metaplanet third among publicly traded companies by Bitcoin holdings, overtaking MARA Holdings in the process.
Metaplanet Surpasses MARA to Claim Third Spot
Metaplanet now ranks above MARA Holdings, which recently offloaded $1.1 billion worth of Bitcoin. The Japanese firm is also closing the gap on Twenty One Capital, which currently holds 43,514 BTC worth roughly $2.9 billion. The ranking shift marks a notable moment in corporate Bitcoin accumulation.
The company confirmed the milestone through its official X channel:
Originally founded in 1999 as a hospitality business, Metaplanet struggled with profitability for years. Its Bitcoin pivot in 2024 completely reshaped its financial identity. Since then, the firm has launched two subsidiaries to support and extend its Bitcoin strategy.
At the start of 2025, Metaplanet held fewer than 2,000 BTC. In roughly 15 months, that figure has grown by approximately 2,180%. The pace of accumulation is among the fastest seen from any publicly traded company globally.
Bitcoin Income Business Helps Offset Acquisition Costs
Metaplanet’s Bitcoin Income Business generated around $19.8 million in revenue during Q1 2026. That translates to approximately $3,900 per BTC acquired, which effectively reduces the net cost of each purchase. The revenue model combines options-based income generation with direct Bitcoin accumulation.
The strategy aligns closely with a market VWAP benchmark of around $79,100 per BTC. This approach allows the company to partially fund its Bitcoin purchases through ongoing revenue. It also provides a buffer against short-term price volatility in the market.
The Q1 acquisition followed a $255 million capital raise completed in late March. Proceeds went directly toward Bitcoin purchases, though total funding could reach $531 million if warrants are exercised. Metaplanet reported a BTC Yield of 2.8% for Q1 2026, following stronger yields throughout 2025.
Looking ahead, the company has set a target of 100,000 BTC by the end of 2026. It also aims to reach 210,000 BTC by the close of 2027. These targets suggest Metaplanet’s accumulation pace is unlikely to slow anytime soon.
