Metaplanet adds 5,268 BTC, becomes fourth-largest public Bitcoin holder

Metaplanet has cemented its place as the fourth-largest publicly traded holder of Bitcoin after acquiring 5,268 BTC as part of its latest buy.

According to an October 1 X post by Metaplanet CEO Simon Gerovich, the company purchased the Bitcoin at an average price of 17.4 million yen per coin, equivalent to around $118,328. 

The total value of the transaction came in at 91.6 billion yen, or approximately $623 million, pushing the firm’s overall holdings to 30,823 BTC. 

With this latest acquisition, Metaplanet stands behind only Strategy, MARA Holdings, and XXI in terms of corporate Bitcoin reserves.

The purchase follows a consistent pattern of aggressive accumulation that has marked the company’s treasury strategy in recent months.

Much of this buying spree has been funded through ongoing equity raises, with the company having announced last month that it would issue 385 million new shares to raise about $1.4 billion. 

The funds are earmarked almost entirely for Bitcoin acquisitions, and Gerovich has previously stated that capital raises are central to building a strong digital asset reserve.

Metaplanet has also posted a strong financial performance for the third quarter, with total revenue up 115.7% from the previous quarter.

Commenting on the results, the company CEO said it strengthens the company’s financial foundation.

“Q3 results demonstrate operational scalability and strengthen the financial foundation for our planned Metaplanet preferred share issuance, which supports our broader Bitcoin Treasury strategy,” Gerovich said.

Yet, Metaplanet’s shares on the Tokyo Stock Exchange dropped 10.26% by the end of trading on Wednesday.

The stock has experienced a lot of volatility over the past month and is down roughly 38% on the monthly timeframe, though it remains up 48.3% on the year. 

In contrast, its US-listed shares under the ticker MTPLF closed up 8.86% at 3.96 dollars on Tuesday, showcasing that sentiment among international investors was stronger.

Metaplanet strengthens its footing

The latest buy comes on the heels of a major institutional endorsement.

On September 25, Metaplanet disclosed that Capital Group had taken an 11.45 percent stake in the company, making it the largest shareholder, following a $500 million investment.

Meanwhile, Metaplanet has been building out its infrastructure to support its global expansion plans. 

For instance, in mid-September, the company launched Metaplanet Income Corp., a US-based subsidiary in Miami focused on generating yield through Bitcoin-related activities such as derivatives trading.

Metaplanet has also expanded its domestic footprint through Bitcoin Japan Inc., a new venture centred around Bitcoin media, conferences, and adoption initiatives, including the launch of the Bitcoin.jp domain and plans to host the Bitcoin Japan Conference in 2027.

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