Metaplanet Inc. has confirmed it now holds 35,102 BTC, exceeding its 2025 target of 30,000 and solidifying its position as the largest public Bitcoin holder in Japan. The company’s aggressive acquisition strategy, launched in 2024, has steadily grown its holdings, making it the fourth-largest public Bitcoin holder globally, trailing only MARA Holdings, Twenty One Capital, and a few others.
The milestone was reached amid rising interest in corporate Bitcoin treasuries, as firms look to diversify capital reserves and participate in the growing digital asset economy. Metaplanet’s current holdings represent roughly 0.16% of the total Bitcoin supply, with a cumulative capital raise of JPY 517.2 billion since the program’s inception.
2025年12月期 通期決算説明資料https://t.co/xk0YL5Xn4H pic.twitter.com/EnpS6qJEAU
— Metaplanet Inc. (@Metaplanet) February 16, 2026
Bitcoin income drives revenue growth
Metaplanet’s Bitcoin-related operations have become the company’s primary revenue engine. FY 2025 results show revenue of JPY 8.905 billion, up 738% from FY 2024, with operating profit reaching JPY 6.287 billion. This growth has been largely fueled by BTC option transactions, with activity intensifying in the latter half of 2025.
The company emphasizes that realized cash flow, rather than unrealized revaluation gains, is the focus for core profit and dividend allocation. Future premium income is expected to fund dividends on perpetual preferred stock while supporting continued Bitcoin acquisitions, accelerating the company’s long-term growth strategy.
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Expanding shareholder base and global ambitions
Metaplanet’s shareholder base grew to 216,500 by year-end 2025, including significant overseas institutional participation from firms such as Charles Schwab and National Financial Services. Looking ahead, the company has set its sights on acquiring 210,000 BTC by 2027, which would represent roughly 1% of the total supply. However, it cautions that this is a forward-looking target subject to market conditions and operational risks.
With its strategic focus on Bitcoin treasury operations, Metaplanet revised its 2025 revenue and operating income forecasts, even as it noted a substantial non-cash loss tied to Bitcoin price movements.
Metaplanet doubles down on Bitcoin with $50M zero-interest bond raise
Japanese Bitcoin treasury firm Metaplanet is reinforcing its long-term bet on digital assets, announcing a new 8 billion yen ($50 million) bond issuance to expand its Bitcoin reserves. The move underscores the company’s aggressive accumulation strategy, even as market volatility continues to test corporate crypto balance sheets.
The latest issuance, Metaplanet’s 20th, comes in the form of zero-interest ordinary bonds, an unusual structure that highlights investor willingness to back the firm’s Bitcoin-focused strategy without immediate returns. The entire offering was fully subscribed by EVO Fund, a repeat backer that has consistently supported Metaplanet’s capital raises.
*Metaplanet Issues 8 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/az8kfL7eeA
— Metaplanet Inc. (@Metaplanet) April 24, 2026
By opting for zero-interest debt, Metaplanet minimizes short-term financial pressure while securing capital to accumulate more Bitcoin. This approach aligns with a growing trend among crypto treasury firms leveraging financial instruments to increase exposure to digital assets without diluting equity.
Meanwhile, Bitcoin itself has shown signs of recovery after a turbulent period influenced by geopolitical tensions, particularly in the Middle East. Currently trading around $77,800, the asset has gained roughly 10% over the past month, offering some relief to firms heavily exposed to its price movements.
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