Metaplanet, a Tokyo-listed Bitcoin treasury company, purchased 5,075 BTC during the first quarter of 2026 at an average price of approximately $79,900 per coin, spending around $405 million in total. The acquisition was disclosed in the company’s quarterly report on Wednesday. The purchase brings Metaplanet’s cumulative holdings to 40,177 BTC, acquired for a total of roughly $4.18 billion at an average cost basis of $104,106 per coin. The firm also reported a year-to-date BTC yield of 2.8%.
With these holdings, Metaplanet has moved past MARA Holdings into third place among publicly traded corporate Bitcoin holders worldwide. The company now ranks behind only Strategy, which holds more than 762,099 BTC, and Twenty One Capital, which holds 43,514 BTC. Metaplanet’s advance in the rankings reflects both its own accumulation efforts and MARA’s recent reduction in holdings.
MARA sold approximately 15,000 BTC in March for $1.1 billion, using the proceeds to repurchase a portion of its convertible debt at a discount. That transaction left the mining company with around 38,700 BTC, opening the door for Metaplanet to claim the third-place position. The shift illustrates how corporate Bitcoin rankings can change quickly depending on treasury strategies.
Metaplanet’s “BTC yield” metric is a self-defined measure rather than a reflection of interest or staking returns on held Bitcoin. The company uses the term to describe the growth in Bitcoin holdings per diluted share, tracking how effectively the firm accumulates BTC relative to its share base. Strategy, widely regarded as the original Bitcoin treasury company, uses the same metric. Twenty One Capital previously promoted a comparable measure called “Bitcoin Per Share,” though CEO Jack Mallers stated earlier this year on his podcast that the company has discontinued its use.
Metaplanet’s ambitions extend well beyond its current ranking. Under its “555 Million Plan,” the firm is targeting 100,000 BTC by the end of 2026 and 210,000 BTC by the close of 2027. Reaching the latter goal would require approximately $10 billion in capital if Bitcoin prices remain at current levels.
To help finance its ongoing purchases, Metaplanet raised $137 million through a share and warrant sale in January 2026, with the potential for an additional $276 million in funding. The company’s stock trades on the Tokyo exchange under the ticker 3550 and over-the-counter as MTPLF. Shares closed at $1.89, or 302 yen, on Wednesday, down roughly 2% on the day and well below the stock’s peak of near 1,930 yen reached in June 2025, as the share price has struggled to keep pace with the company’s accumulation goals.
Originally reported by Decrypt.
