Japanese firm Metaplanet has become the third-largest corporate Bitcoin holder globally after acquiring over 5,000 BTC in Q1 2026. Its purchase moved it ahead of MARA Holdings, which recently sold a significant portion of its reserves. Metaplanet’s CEO announced the acquisition and defended its strategy against critics questioning the timing of purchases.
Metaplanet purchased 5,075 Bitcoin for approximately $405 million during the first quarter of 2026. The acquisition brought its total holdings to 40,177 BTC, moving it into third place among public companies with Bitcoin reserves.
The company is now the first non-American corporate holder to break into the top three. Its climb was partly handed to it by MARA Holdings, which sold 15,133 BTC in March to raise roughly $1.1 billion.
CEO Simon Gerovich announced the Q1 figures, noting a year-to-date Bitcoin yield of 2.8%. The company’s average cost basis now stands at just over $104,000 for its entire stash, purchased for about $4.18 billion.
At current prices below $67,000, Metaplanet’s holdings are worth around $2.6 billion. This puts the company in the red on paper for more than $1.5 billion.
Jack Maller’s Twenty One Capital, holding 43,514 BTC, now sits in second place. Michael Saylor’s MicroStrategy remains the largest holder with 762,099 Bitcoin.
Metaplanet’s aggressive strategy has come under fire from critics. Gerovich publicly defended the company, stating accusations about purchase timing were “inflammatory and contrary to the facts.”
He maintained that all purchases are announced when made and that wallet addresses are available via a public dashboard. Options positions are disclosed in financial statements, he noted.
The company’s primary performance metric, Bitcoin per share, grew more than 500% in 2025. Metaplanet has stated targets of owning 100,000 BTC by the end of 2026 and 210,000 by 2027.
