Japanese company Metaplanet has officially joined the global top five public Bitcoin holding companies rank.
After a string of big names in 2025, the Tokyo-listed company currently owns 30,823 BTC, over $3.6 billion, making it the fourth largest publicly traded Bitcoin finance company in the world.
Milestone saw Metaplanet purchase 5,268 BTC on October 1, 2025 at an average price of $116,870 per coin, spending more than $615 million in the process. This latest buy pushed the company far faster than planned, exceeding its 2025 target of 30,000 BTC.
“The Q3 results demonstrate operational scalability and strengthen the financial foundation for planned Metaplanet Preferred Stock Issuance. said Simon Gerovich, the company’s president and CEO.
Metaplanet transformation is one of the most notable corporate turnarounds in recent years. It was once a small hospitality company, but it has been renamed “Asian Bitcoin Rocket.”
Since adopting the Bitcoin strategy in 2024, Metaplanet has grown rapidly, reinvesting international equity offerings, derivatives trading and revenues to fund purchases.
The company raises more than 500 billion yen ($3.34 billion) to fund purchases through equity provisions, convertible bonds and other financing mechanisms.
With an average entry price of around $107,912 per BTC, Metaplanet achieved a Bitcoin return of 497.1% in 2025, far surpassing corporate returns.
The company’s financial strategy is consistent with its strong operational performance.
In the third quarter of 2025, Japanese companies’ Bitcoin revenue generation business (option trading and proprietary strategies) generated revenue of 2.444 billion yen ($16.5 million). This is an increase of 115.7% from the second quarter.
As a result, management doubled its full-year revenue guidance to ¥6.8 billion ($46 million) and operating profit guidance to ¥4.7 billion ($32 million).
The options trading segment is also growing. It was $4.6 million in the fourth quarter 2024, $5.1 million in the first quarter 2025, $7.5 million in the second quarter 2025, and $7.5 million in the third quarter, and once again. Metaplanet added 4,412 BTC this year through its financial activities.
Despite this, the company’s stock price was unstable.
When the purchase of Big Bitcoin was announced on October 1st, shares on the Tokyo Stock Exchange fell by more than 10% to 516 yen. Over the past month, stock prices have fallen 37%, creating short-term bearish feelings among retailers.
But institutional investors aren’t worried. The US-based capital group, which manages $2.6 trillion in assets, has become Metaplanet’s largest shareholder, bringing nearly $500 million in shares to 11.45%.
Other major institutions have also achieved positions, including Vanguard, Jpmorgan, Citigroup and State Street.
Benchmark Equity Research reportedly reaffirmed its “purchase” rating by 2026, and set a target price of 2,400 yen by 2026 as the company continues to accumulate Bitcoin.
Metaplanet’s strategy is not just to stack up Bitcoin. The company is building a vertically integrated Bitcoin platform with multiple new business lines to generate revenue while keeping its long-term holdings untouched.
In 2025, they announced two new subsidiaries.
- Metaplanet Income Corp. (USA): It focuses on derivative trading and revenue generation.
- Metaplanet Japan Subsidiary: It focuses on Bitcoin-related media, events and community services.
They also launched Bitcoin.jp, an online hub located as Japan’s “all Bitcoin homes.” The platform covers media, education, conferences and financial services, including the upcoming Bitcoin Japan 2027 conference.
Metaplanet deployed Project Nova in 2026, with CEO Gerovich describing it as “the gateway to all BTC in Japan.”
Project Nova is marked as “classified” in documents released by the company, providing further details.