Breaking: Metaplanet Adds $451M in Bitcoin, Here’s All

Key Insights:

• Metaplanet (MTPLF) added more Bitcoin on Tuesday, spending over $451 million on the purchase.
• Meanwhile, the Metaplanet (MTPLF) stock had slid nearly 8% to 405 yen due to increasing selling pressure on Bitcoin.
• In its preliminary Q4 forecasts, the company expects the unit to generate 4.24 billion yen in operating revenue for the fourth quarter alone.

Metaplanet added more Bitcoin on Tuesday, spending over $451 million on the purchase. Earlier in the day, the company’s MTPLF stock had slid nearly 8% to 405 yen, mirroring the pressure weighing on Bitcoin prices.

In its latest disclosure published on December 30, Metaplanet Inc. revealed that it added 4,279 Bitcoin. It increased the company’s total BTC holdings to 35,102.

The end-of-quarter update also disclosed spending an average of $105,412 on each Bitcoin bought through that period. Overall, its full Bitcoin position was built at an average cost of roughly $107,606, translating to a total investment of about $3.78 billion.

The Asia Bitcoin treasury company now sits at an unrealized loss of roughly $520.34 million with this latest Bitcoin purchase. Meanwhile, the company’s mNAV fell from 1.17 to 1.03 in just one day after the announcement.

The treasury company also confirmed the completion of payments tied to the issuance of 23.61 million MERCURY Class B preferred shares through a third-party allotment. The company expects its Bitcoin Income business to generate operating revenue of 4.242 billion yen in Q4 2025.

Chief executive Simon Gerovich later shared the news of the latest Bitcoin purchase with shareholders and the wider crypto community on X.

In his update, he noted that the company, now the world’s fourth-largest corporate Bitcoin holder, has delivered a year-to-date Bitcoin yield of 568.2% under its accelerated accumulation strategy.

The fourth-quarter purchases represent the latest step in Metaplanet’s ongoing Bitcoin treasury strategy. The company stated that it focused on targeted spot buying during the quarter and employed Bitcoin option-based strategies to enhance its holdings and manage risk.

Metaplanet shared preliminary results for its Bitcoin Income Generation business along with the update on its Bitcoin holdings. It expects the unit to generate 4.24 billion yen in operating revenue for the fourth quarter alone.

For the full fiscal year 2025, revenue reached 8.58 billion yen. That’s well above the company’s earlier forecast of 6.3 billion yen.

Metaplanet described the performance as a strong indication of the unit’s growing contribution to overall business results. It shared that its Bitcoin Income business takes full advantage of derivatives, including collateral-backed option strategies, to generate recurring revenue.

The company stressed that these activities are kept separate from its long-term Bitcoin holdings, which are not exposed to derivatives. Moreover, it forecasted that it is still assessing the full impact of its Bitcoin income operations on consolidated earnings.

The board plans to release a revised outlook once the review is complete. For now, investors are focused on the company’s growing Bitcoin balance. Attention is also on how it uses derivatives and whether its yield metrics are sustainable.

As 2026 approaches, Metaplanet ranks among the largest publicly disclosed corporate Bitcoin holders in the world. Its strategy continues to attract both interest and debate in the market.