Metaplanet’s $405M Bitcoin Bet: Stock Tanks 87%—Why This Japanese Firm Is Doubling Down on Crypto

Brace for impact: Metaplanet, the Tokyo Stock Exchange-listed firm, has issued a critical warning that its aggressive accumulation—adding $405 million and 27,832 Bitcoin in Q1—comes as its stock nosedives 87% year-over-year. In a move that redefines 'conviction over correction,' the company tripled its crypto reserves to become the world's third-largest corporate Bitcoin holder, even as shares crumbled. But can this high-stakes strategy survive the FSA's tightening gaze?

Bitcoin hoarding climbs as shares tumble

According to the latest reports, Metaplanet continues to generate profits even as its share price faces sharp losses and now trades below its book value. Zynx analysts have highlighted this divergence, describing the situation as a potentially attractive opportunity for investors who spot the underlying value.

Adam Livingston observed that it is remarkable for Metaplanet’s shares to come under such pressure despite the company having significantly less debt than its competitors.

Leveraging an aggressive accumulation strategy over the past year, Metaplanet has emerged as a prominent corporate Bitcoin holder. The pronounced gap between its market performance and expanding Bitcoin holdings has become a closely-watched trend among investors.

405 million dollar acquisition in first quarter

In the first quarter of 2026, Metaplanet acquired an additional 5,075 BTC at a total cost of approximately 405.48 million dollars. The company reported paying an average price of 79,898 dollars per Bitcoin with these purchases.

Following these recent acquisitions, Metaplanet’s overall Bitcoin reserves rose to 40,177 BTC. The cumulative cost of these holdings now stands at around 4.18 billion dollars, with an average purchase price calculated at 104,106 dollars per Bitcoin.

Now ranking third among corporate Bitcoin holders

With the latest acquisition, Metaplanet has climbed to third place worldwide among companies with the largest corporate Bitcoin treasuries. Only Jack Mallers’ Twenty One Capital and Michael Saylor’s MicroStrategy hold larger on-balance-sheet Bitcoin positions.

As a Japan-based investment powerhouse, Metaplanet has made headlines not just for growing its Bitcoin stash but also for laying the groundwork for a broader financial structure around these reserves.

Deal signed for brokerage acquisition

Chief Executive Officer Simon Gerovich recently revealed that Metaplanet signed an agreement to purchase 100 percent of Siiibo Securities Co., Ltd. The value of the deal stands at 2.1 billion yen, or roughly 13.1 million dollars.

Simon Gerovich stated that Metaplanet has finalized terms to acquire all shares in Siiibo Securities, with the transaction expected to close in July.

This move forms part of Metaplanet’s broader plan to establish a financial infrastructure around its growing Bitcoin reserves. The acquisition is set for completion in July.