Metaplanet has expanded its Bitcoin treasury to more than 30,000 BTC, reaching a new milestone as the fourth-largest corporate Bitcoin holder in the world. The company’s announcement coincided with strong Q3 results, though its stock faced a steep decline on the Tokyo Stock Exchange.
On October 1, Metaplanet purchased 5,268 BTC at an average price of $116,870 per coin. The investment totaled about $615 million. With this addition, the company’s Bitcoin holdings stand at 30,823 BTC, valued at around $3.3 billion at current market prices. The average cost per coin across its total treasury is $107,912.
CEO Simon Gerovich confirmed the company’s new position, stating that Metaplanet is now the fourth-largest Bitcoin treasury firm worldwide.
Strong Q3 Revenue and Updated Guidance
Alongside the treasury expansion, Metaplanet released its third-quarter results. The company’s Bitcoin Income Generation unit reported revenue of 2.438 billion JPY, marking a 115.7% increase compared to the previous quarter. The growth reflects the performance of the company’s strategy for generating yield from its Bitcoin reserves.
Based on these results, Metaplanet raised its full-year 2025 guidance. It now expects revenue of 6.8 billion JPY and operating profit of 4.7 billion JPY. This represents a 100% increase in revenue and an 88% increase in profit compared with prior projections. Gerovich commented that the results “demonstrate scalability and reinforce our financial position” ahead of its preferred share issuance, which is intended to support further Bitcoin purchases.
Stock Declines Despite Growth
Despite the positive earnings report, Metaplanet’s stock price fell sharply. Shares dropped 10.26% on October 1, closing at 516 JPY. Over the past month, the stock has corrected by 37%, reflecting bearish sentiment among retail investors.
Institutional participation, however, appears to be growing. Capital Group has raised its stake to 11.45%, becoming Metaplanet’s largest shareholder. Benchmark Equity Research also reaffirmed its “Buy” rating, with analyst Mark Palmer setting a 2026 price target of 2,400 JPY.
Strategy Adds to Bitcoin Holdings
While Metaplanet secured its milestone, Strategy, led by Michael Saylor, announced another Bitcoin purchase. The company acquired 196 BTC for about $22.1 million at an average price of $113,048 per coin. This brings its total holdings to 640,031 BTC.
The stash is valued at over $71.7 billion at current prices, giving the firm an unrealized profit of more than $24.3 billion. Strategy’s holdings now represent about 3.2% of Bitcoin’s circulating supply.
The latest purchase was smaller compared with recent acquisitions. Last week, the company bought 850 BTC for nearly $100 million, and during the summer it made several multi-billion-dollar additions to its treasury.
In addition, Bitcoin was trading near $116,439 on October 1, with investors watching the accumulation strategies of Metaplanet and Strategy. Both companies added to their holdings despite recent volatility, reflecting a long-term stance toward the asset.
Metaplanet’s move past 30,000 BTC, together with its stronger financial guidance, shows its continued focus on Bitcoin. Strategy’s steady buying pattern reinforces the growing role of corporate treasuries in overall market demand.
