Metaplanet eyes ‘100K Bitcoin’ goal as it becomes the third-largest BTC holder globally
Japan-based Metaplanet has now develop into the third-largest public agency holding Bitcoin. The ascent comes after the agency acquired 5,075 BTC, price $405M, in Q1 2026, bringing its general holdings to 40,177 BTC.
As of late 2025, Metaplanet held 35K BTC and ranked fourth. Throughout that interval, Bitcoin miner MARA ranked third with over 50K BTC. Nevertheless, the miner offloaded over 15K BTC ($1.1 billion) in March, bringing its holdings to 38K BTC.
Collectively, the 2 components led MARA to lose the third spot to Metaplanet.
Metaplanet’s 2026-2027 plan
However Metaplanet’s broader plan and long-term objective are manner bigger. The agency goals to amass 210K BTC by 2027.
In 2026 alone, it plans to scale its holdings to 100K BTC. Put in a different way, within the remaining three quarters, it might add an additional 60K BTC.
At present costs, this could suggest about $3.96 billion in wanted capital to fund the 2026 deficit.
For the 5,075 BTC purchased in Q1, the agency mentioned the bid was funded by “capital market actions and working earnings.” Actually, final month the agency raised $275 million, with an choice to extend it to $531 million by way of promoting its inventory.
Even so, this was nonetheless in need of the almost $4B wanted to hit the 2026 goal. Moreover, its Bitcoin income, generated from promoting Bitcoin Choices contracts and lending and borrowing towards its holdings, hit $18.9 million in Q1.
Taken collectively, this could deliver general funds to $550M in Q1. Nonetheless, this implied a shortfall of $3.5B to hit the 100K BTC milestone this yr.
Metaplanet’s BTC technique faces a $1.5B paper loss
That mentioned, Metaplanet’s ascent to the third spot has not been a clean sail. The agency’s present BTC holdings now face an unrealized lack of $1.5 billion.
The present stash was purchased at $4.1B, however at present costs, it was price $2.7B, translating to a 36% drawdown as BTC struggles under $70K.
In the meantime, the agency has been buying a mean of 5K BTC prior to now two quarters. If the development holds, its holdings might cross 45K BTC by the tip of Q2.
In that case, that will successfully assist it dislodge Twenty One Capital from the second place.
Closing Abstract
- Metaplanet flipped MARA from the third-largest Bitcoin treasury agency after crossing the 40K BTC threshold.
- If its quarterly common purchase of 5K BTC persists, Metaplanet might quickly develop into the second-largest public firm holding BTC.
