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Metaplanet purchased 5,268 BTC for $623M, bringing total holdings to 30,823 BTC.
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Now ranks as the fourth-largest public bitcoin holder.
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Recent funding plans aim to raise $1.4B for more BTC purchases.
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Q3 revenue up 115% from Q2, but stock performance mixed.
Major BTC Acquisition
Japanese bitcoin treasury firm Metaplanet announced it purchased 5,268 BTC for $623 million, bringing its total holdings to 30,823 BTC. At $118,328 per coin, the buy cements Metaplanet as the fourth-largest public holder of bitcoin, trailing only Strategy, MARA Holdings, and XXI.
Aggressive Buying Strategy
The purchase comes just ten days after a $632 million BTC buy, the company’s largest single acquisition. Metaplanet is also raising $1.4 billion through new share issuance, with proceeds earmarked for more bitcoin purchases.
Financial Performance
CEO Simon Gerovich reported that Q3 revenues hit $16.5 million, up 115.7% from the prior quarter. However, the company’s stock performance has been volatile: its Tokyo-listed shares dropped over 10% after the announcement and are down 38% this month, though U.S.-traded shares (MTPLF) closed nearly 9% higher on Tuesday.
Bitcoin Treasury Expansion
Metaplanet also created a U.S. subsidiary, Metaplanet Income Corp., to focus on bitcoin income products like derivatives and staking strategies. The move mirrors Michael Saylor’s playbook of turning corporate balance sheets into bitcoin treasuries, signaling that the corporate race for BTC continues to expand globally.
