Metaplanet’s Q1 Buying Spree Earns It Top 3 Bitcoin Treasury Status

bitcoinistОпубликовано 2026-04-04Обновлено 2026-04-04

Введение

Metaplanet, a Tokyo-listed investment firm, significantly expanded its Bitcoin holdings in Q1 2026, acquiring 5,075 BTC for approximately $405 million. This purchasing spree increased its total holdings to 40,177 BTC, making it the world's third-largest public Bitcoin treasury. The company also generated close to $19 million in operating revenue from a separate Bitcoin options strategy, which it uses to fund further acquisitions. Despite these efforts, the firm's average acquisition cost of $104,106 per Bitcoin remains well above the current market price. Consequently, its shares fell slightly following the announcement, while its annual financial forecasts were left unchanged.

Tokyo-listed investment firm Metaplanet generated close to $19 million in operating revenue during the first quarter of 2026 from a Bitcoin options strategy that runs separately from its main treasury — and that money is being funneled back into buying more of the cryptocurrency.

A Two-Track Approach To Bitcoin Accumulation

The company operates what it calls a Bitcoin Income Generation business, a ring-fenced portfolio that uses collateral-secured options contracts to produce income. Once those option cycles close out, the returns can be converted into direct Bitcoin purchases and added to the firm’s long-term holdings.

Based on company filings dated April 2, trailing 12-month revenue from that segment reached roughly $71.5 million when combined with full-year 2025 figures of nearly $54 million.

That income engine ran alongside a significant buying spree. Metaplanet acquired 5,075 Bitcoin in Q1 at an average price of roughly $79,898 per coin, spending about $405 million in total.

The purchases pushed its cumulative holdings to 40,177 Bitcoin — enough to rank it as the third-largest publicly traded Bitcoin treasury in the world, according to Bitcoin Treasuries data.

Metaplanet Chief executive Simon Gerovich shared the figures in investor materials, reporting a year-to-date BTC Yield of 2.8% for 2026. That metric tracks how Bitcoin holdings grow on a per-share basis. It does not measure income.

Cost Basis Sits Well Above Current Market Price

The firm’s average acquisition cost across its entire holdings stands at $104,106 per coin, according to the same materials. With Bitcoin trading around $66,550 at the time of the announcement, the company’s treasury carries a substantial gap between what it paid and what those coins are worth on the open market today.

BTCUSD trading at $66,851 on the 24-hour chart: TradingView

Despite the headline acquisition numbers, the market response was muted. Metaplanet shares fell almost 2% on Thursday to $302, down from $308 the day before, data from Yahoo Finance shows. Annual revenue and operating profit forecasts were left unchanged from guidance issued in January.

Rival Firm Exited Metaplanet Stake At A Loss

Elsewhere in the listed Bitcoin vehicle space, Nakamoto disclosed Wednesday that it unloaded 284 Bitcoin for $20 million in March and unwound a significant portion of its stake in Metaplanet at a loss during the first quarter. The move underlines how exposed these corporate treasury strategies are to price swings in a volatile asset class.

Metaplanet has not changed its full-year outlook for the period ending December 31, 2026, and continues to pursue both sides of its strategy — accumulating Bitcoin for the long term while using options to keep fresh capital moving into the treasury.

Featured image from fundacionblazer.org, chart from TradingView

Связанные с этим вопросы

QWhat is the total number of Bitcoin that Metaplanet acquired in Q1 2026 and what was the average purchase price?

AMetaplanet acquired 5,075 Bitcoin in Q1 2026 at an average price of $79,898 per coin.

QHow does Metaplanet's Bitcoin Income Generation business work to produce income?

AIt is a ring-fenced portfolio that uses collateral-secured options contracts to generate income. The returns from these options are then converted into direct Bitcoin purchases for the firm's long-term holdings.

QWhat is Metaplanet's current ranking among publicly traded companies in terms of Bitcoin treasury size, and what is its total holding?

AMetaplanet is the third-largest publicly traded Bitcoin treasury in the world, with cumulative holdings of 40,177 Bitcoin.

QWhat is the significant gap mentioned between Metaplanet's cost basis for its Bitcoin and the current market price?

AThe firm's average acquisition cost is $104,106 per Bitcoin, while Bitcoin was trading around $66,550 at the time of the announcement, creating a substantial unrealized loss.

QWhat was the market's reaction to Metaplanet's Q1 acquisition news, and what did a rival firm, Nakamoto, do regarding its Metaplanet stake?

AMetaplanet's shares fell almost 2% following the news. Rival firm Nakamoto disclosed that it unwound a significant portion of its stake in Metaplanet at a loss during the first quarter.

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