Metaplanet has crossed the 43,000 bitcoin threshold, making it the world’s third-largest corporate Bitcoin treasury behind only Strategy and Twenty One Capital. The Tokyo-based firm added 2,823 BTC during the second quarter of 2026, cementing Japan’s growing role in the corporate accumulation race.
According to The Block, Metaplanet spent $222 million on purchases in Q2, translating to an average cost of $78,608 per bitcoin. CoinTelegraph, however, reports a different average acquisition cost of $106,500 per BTC, noting that the firm reduced its overall cost basis through the latest purchases. The discrepancy highlights the importance of verifying calculation methodologies across sources.
The company also reported $10.9 million in revenue from its Bitcoin Income Generation strategy, as noted by CoinDesk. This yield-generating approach, which involves lending or staking bitcoin, has become a key driver of Metaplanet’s treasury expansion and investor appeal.
Metaplanet’s ascension reflects a broader trend of publicly traded firms accumulating bitcoin as a treasury reserve asset. With a market cap roughly one-tenth of Strategy’s, the firm remains a smaller player in absolute terms, but its rapid growth rate and geographic positioning in Asia offer a distinct diversification angle for crypto-focused portfolios.
The move comes amid a mixed regulatory backdrop: Japan’s Financial Services Agency has not explicitly banned corporate bitcoin holdings, but it continues to issue cautious guidance on volatility and custody risks. Meanwhile, the U.S. SEC has intensified scrutiny of similar yield-generating strategies, creating potential compliance headwinds for firms like Metaplanet as they expand globally.