Metaplanet Grows Bitcoin Holdings to 40,177 BTC, Becomes Third-Largest Corporate Holder

Japanese public company Metaplanet — often called "Japan's Strategy" — acquired 5,075 BTC for $405.5 million during Q1 2026 at an average price of roughly $79,898 per coin. The purchase brought the firm's total Bitcoin holdings to 40,177 BTC.

«メタプラネット、ビットコインをさらに 5,075 BTC追加取得、保有量は合計 40,177 BTCに» — Metaplanet Inc. (@Metaplanet), original post

Third Place Among Corporate Bitcoin Treasuries

Metaplanet's cumulative Bitcoin investment now stands at approximately $2.6 billion with an average entry price of $104,106. The latest acquisition propelled the company to third place among the world's largest public Bitcoin holders, trailing only Strategy (762,099 BTC) and Twenty One (43,514 BTC).

«🪜 We keep climbing. Now #3» — Simon Gerovich (@gerovich), original post

According to the company, its Bitcoin income strategies generated 2,969 million yen ($18.6 million) during the first three months of 2026. Metaplanet employed options strategies to reduce acquisition costs. The BTC Yield metric reached 2.8% for the reporting period, while BTC Gain came in at 876 BTC — down from 3,672 BTC in the prior quarter.

Why This Matters

Metaplanet's ascent into the top three corporate Bitcoin holders marks a milestone for the Asian crypto market. The firm adopted its Bitcoin strategy in 2024 and has been steadily building its position ever since. In March 2026, it raised $531 million to pursue its long-term target of accumulating 210,000 BTC.

Beyond direct purchases, Metaplanet is expanding into the broader digital asset ecosystem. The firm established two subsidiaries — Metaplanet Ventures and Metaplanet Asset Management — for venture investments in Bitcoin-related projects, and has also invested in the JPYC stablecoin.

«Today our Board approved the establishment of two new wholly owned subsidiaries, Metaplanet Ventures and Metaplanet Asset Management. Metaplanet Ventures is our commitment to Japan's Bitcoin ecosystem. We'll be investing ¥4 billion over the next few years into companies building…» — Simon Gerovich (@gerovich), original post

For fiscal year 2025, Metaplanet reported an unrealized loss of 104.6 billion yen ($680 million) from declining Bitcoin prices. Despite this, the company raised its annual revenue forecast from 6.8 billion to 8.58 billion yen, citing stronger-than-expected performance in its Bitcoin income generation business.

The Counter-Trend: Corporate Holders Dumping Bitcoin

While Metaplanet aggressively accumulates, a growing number of companies and governments are heading for the exits. According to CoinDesk, public companies hold over 1.16 million BTC (about 5% of total supply), but liquidation pressure is mounting amid a sustained price downturn that began last fall.

On April 1, Empery Digital announced the sale of 370 BTC ($24.7 million) at an average price of $66,632, leaving 2,989 BTC on its balance sheet. Part of the proceeds went toward full loan repayment, and approximately 1,800 BTC previously held as collateral were released. Empery Digital began building its Bitcoin treasury in July 2025, accumulating roughly 4,000 BTC total. Its shares have since collapsed 75% from their all-time high.

AI-focused education startup Genius Group liquidated its entire Bitcoin position. As recently as March 2025, the company held 440 BTC. On April 1, 2026, management sold the final 84 BTC to pay off $8.5 million in debt, stating it would resume accumulation once market conditions improve.

Bitcoin miner Riot Platforms continues selling BTC to fund its pivot toward AI. The company moved 500 BTC (~$34.13 million) on the eve of Metaplanet's announcement.

«It seems that Bitcoin mining company Riot Platforms sold another 500 $BTC($34.13M) 2 hours ago.» — Lookonchain (@lookonchain), original post

Over the final two months of 2025, Riot Platforms liquidated approximately $200 million in BTC. Its peak reserves reached 19,000 BTC; the current figure sits around 17,500 BTC. Bhutan's government has also sold 3,103 BTC since the start of 2026, following years of accumulation through state-run mining operations.

Corporate Bitcoin Treasuries at a Crossroads

The divergence among corporate Bitcoin holders is sharpening. Metaplanet is doubling down with aggressive accumulation and ecosystem expansion, while others are cutting losses and reducing exposure amid a prolonged price correction. This split raises a fundamental question about the resilience of the corporate Bitcoin treasury model during extended bearish periods.