Metaplanet Raises $255 Million to Accelerate Bitcoin Accumulation

Japanese investment company Metaplanet has followed Strategy's lead in recent years by adding Bitcoin to its corporate treasury, aiming to diversify its exposure to yen-denominated assets and increase shareholders' exposure to the cryptocurrency. Its holdings have surpassed 43,000 Bitcoin, making the company a key barometer of corporate Bitcoin adoption in Asia.

Metaplanet spent about $170 million to buy 2,823 Bitcoin in the second quarter, taking its total holdings above 43,000 and lowering its average acquisition cost to $106,500 per Bitcoin. It also generated about $10.9 million in revenue from its Bitcoin income strategy during the quarter.

Metaplanet, a Tokyo-listed Bitcoin treasury company, has followed Strategy’s playbook by steadily accumulating Bitcoin with corporate funds, earning it the nickname “Asia’s MicroStrategy.” Its rapidly expanding holdings also reflect a broader trend among Japanese listed companies to adopt Bitcoin as an asset allocation.

In the first quarter of 2026, Metaplanet spent about $405 million to buy 5,075 Bitcoin, bringing its total holdings to 40,177 BTC. That made it the world’s third-largest corporate Bitcoin holder, behind only Strategy and Twenty One Capital. Revenue rose 251% year on year during the period, while the value of its holdings surpassed 500 billion yen.

Metaplanet, formerly a Japanese hotel operator, transformed itself into a “Bitcoin treasury company” in April 2024. It has continued buying Bitcoin through equity and debt financing to hedge against yen depreciation and increase its Bitcoin holdings per share. As of the end of March 2026, it held 40,177 Bitcoin, making it one of the world’s leading corporate holders of the cryptocurrency among publicly listed companies.

On April 24, 2026, Metaplanet issued its 20th series of ordinary corporate bonds to EVO FUND, raising ¥8 billion, or about $50 million. All proceeds will be used to purchase Bitcoin, equivalent to roughly 740 Bitcoin at the price at the time. The unsecured bonds carry a 0% coupon and are scheduled to mature on April 23, 2027, when they will be redeemed at face value.

Metaplanet, which transformed itself in 2024 into a listed company with Bitcoin as its core reserve asset, is expanding its strategy beyond simply holding the cryptocurrency and into financial services. Japan is expected to reclassify Bitcoin as a regulated financial asset as early as January 2028, making lending, payments, custody and compliance infrastructure critical to institutional adoption.

On March 12, 2026, Metaplanet approved the creation of two wholly owned subsidiaries, Metaplanet Ventures and Metaplanet Asset Management. Ventures plans to invest about 4 billion yen over two to three years, starting with an investment of up to 400 million yen in yen-stablecoin issuer JPYC in April. Metaplanet Asset Management will be based in Miami and focus on Bitcoin asset management.