Bitcoin : Metaplanet passes a historic milestone and joins the top 3

Metaplanet has just crossed a milestone that very few companies can claim. The Japanese company bought 5,075 bitcoins in the first quarter of 2026, bringing its treasury to 40,177 BTC. This move pushes it to the third place among the largest publicly traded Bitcoin treasuries, behind Strategy and Twenty One Capital.

A Bitcoin offensive that changes dimension

Metaplanet no longer just buys bitcoin for the image. It is building a model where the BTC treasury becomes the company’s center of gravity. In three months, Metaplanet put about 405 million dollars on the table to acquire 5,075 BTC, with an average price close to 79,898 dollars per bitcoin. With 40,177 BTC in reserve, the group clearly changes category in the ecosystem of companies exposed to bitcoin.

This figure matters beyond the symbol. Crossing 40,000 BTC, is no longer a stance of conviction. It’s a logic of power. The bigger the reserve grows, the more Metaplanet establishes itself as a key player in publicly traded Bitcoin finance, especially in Asia where it has already asserted itself as a central name.

This progress has also been facilitated by the decline of other players. Several reports indicate that Metaplanet surpassed MARA in the ranking of corporate bitcoin holders, which accelerated its rise to the third global rank. In this market, climbing up doesn’t depend only on purchases. It also depends on others’ sales.

A model that does not rely solely on purchasing

The other key point, often less visible, concerns the group’s financial mechanics. Metaplanet has posted a BTC yield of 2.8% since the beginning of 2026, an in-house metric that tracks the growth of bitcoin holdings per share. In other words, the company seeks to increase its bitcoin exposure without reducing its performance to a simple price variation.

Meanwhile, the company generated 2.97 billion yen in quarterly revenue, about 18.6 million dollars, thanks to its BTC-related activity. This branch relies on options strategies backed by collateral and managed separately from the long-term held btc reserve. It’s a two-level architecture, quite rare, and much more structured than a simple “buy and hold.”

That’s where Metaplanet becomes interesting. The company tries to turn bitcoin into a reserve asset but also a revenue engine. The capital generated by this activity can then be recycled into new BTC purchases. Simply put, the group seeks to grow its Bitcoin stock with money generated around Bitcoin itself.