Tokyo-listed investment firm Metaplanet continued to accumulate Bitcoin during the first quarter of 2026, acquiring 5,075 BTC for roughly $398 million, making it the third-largest corporate Bitcoin holder.
The buys suggest an average cost per coin of approximately $78,000, highlighting the company’s sustained confidence in the cryptocurrency, even in a fluctuating market.
So far this year, the company has delivered a yield of 2.8 percent on its Bitcoin investments, underscoring the modest gains from the cryptocurrency’s rising stockpile.
Overall, the steady accumulation of the cryptocurrency underscores Metaplanet’s commitment to long-term investing, incrementally adding to its balance sheet stake in the cryptocurrency as part of what is shaping up to be an aggressive corporate adoption strategy.
Metaplanet climbs to third place in Bitcoin treasury
As of March 31, Japanese investment company Metaplanet revealed that it now held a total of 40,177 Bitcoin. This was accumulated over time for about $3.9 billion. This means that the average cost per Bitcoin is about $97,000. This is an indication of how aggressively the company has been accumulating Bitcoin over time. Despite the rising prices, the company has been buying Bitcoin.
This is an indication that the company is not looking to sell Bitcoin anytime soon. This is due to the high average cost per Bitcoin for the company. The price a clear indication that the company bought Bitcoin during good times. The move shows that the firm is focused on long-term holding and is not looking to sell Bitcoin anytime soon.
This growing Bitcoin reserve has enabled the company to become the third-largest Bitcoin treasury company in the world. This is due to the fact that MARA Holdings reduced their Bitcoin holdings.
This change illustrates just how quickly positions can change in the corporate Bitcoin race, especially as different companies make changes to their approaches. While some mining operations have chosen to sell some of their Bitcoin reserves to cover operational costs, companies focused on treasuries such as Metaplanet have continued to add to their reserves based on their expectations for Bitcoin’s value.
The global leaderboard for companies holding Bitcoin continues to become more competitive. According to data provided by Bitcoin Treasuries, Twenty One Capital is currently sitting in the second position on the leaderboard with 43,514 BTC.
The gap between second and third place on the leaderboard is relatively small, so even small buying and selling activity can cause significant changes to these standings in the near future. This has created a sense of a race as different companies make changes to their approaches to Bitcoin treasuries.
Significantly ahead of all other companies on the leaderboard is software firm Strategy, which holds more than 762,000 BTC, a clear record for the largest Bitcoin treasury among all companies.
Under the leadership of Michael Saylor, the company has continued to bet big on Bitcoin by repeatedly investing in the asset using debt and equity offerings. The approach of the company has essentially provided the template for other corporations looking to invest in Bitcoin.
Metaplanet’s late entry makes swift climb to top three stand out
The swift rise of Metaplanet to the top three is even more surprising considering the recent entry of the company into the Bitcoin accumulation business in comparison to other, more established miners and technology firms.
The Tokyo-based company has managed to rapidly accumulate its Bitcoin reserves, thus indicating the increasing institutional drive for Bitcoin adoption in Asia.
This is a manifestation of the general movement in the business world, wherein companies are looking for alternative reserves in a world where there are fluctuations in currencies, inflation, and changing global markets.
Despite the company’s achievement of this major milestone, there has been some negative movement in the company’s stock.
The stock of Metaplanet was down by 2 percent, and it was trading at 302 yen, or $1.89.
This is usual for a company like Metaplanet, which is heavily involved in the Bitcoin business, as its stock normally fluctuates in accordance with the day-to-day changes in the market sentiment of Bitcoin. As an investor, this is a manifestation of the usual market volatility and should not be seen as a major movement in the company’s Bitcoin strategy.