Metaplanet Expands Bitcoin Holdings Again in Steady March Toward 2026 Goal

Metaplanet has added 780 BTC to its holdings, expanding its treasury as part of its long-term commitment to buy up the digital asset ahead of a key target next year. The latest purchase brings its total stash to more than 17,000 Bitcoin, now valued at over $2 billion.

The Tokyo-listed firm has “strategically increased” its Bitcoin holdings “through acquisitions funded by capital market activities and operating income,” per its corporate notice released Monday.

To support this, Metaplanet issued over 23 million shares in July through stock acquisition rights, executed across three tranches, with proceeds used to redeem portions of its outstanding corporate bonds and fund more Bitcoin buys.

The pace with which Metaplanet has accumulated Bitcoin this year coincides with the rollout of its updated “555 Million Plan,” which replaced its earlier 21,000 BTC target for 2026 with new goals of 100,000 BTC by year-end and 210,000 by 2027.

With Bitcoin near $119,200, Metaplanet would need approximately $10 billion to reach 100,000 BTC by the end of 2026, at roughly 4,900 BTC per month for the next 17 months if prices remain steady.

Still, that trajectory hinges on sustained investor appetite, Decrypt was told.

“Its sustainability is a function of the appetite for Metaplanet’s security issuance in the public capital market,” Peter Chung, head of research at quantitative trading firm Presto, told Decrypt. “The real test will come when the current bull market comes to an end.”

Launched in 2024, Metaplanet’s accumulation has spun sharply as market conditions and investor appetite aligned with its long-term vision.

Metaplanet is now positioning itself as one of the most aggressive corporate bitcoin holders, second only to Michael Saylor’s Strategy in stated ambition.

Earlier this month, Metaplanet CEO Simon Gerovich was listed as an individual investor for a broader push among Asian firms exploring similar strategies.

Gerovich did not immediately respond to Decrypt’s request for comment.

Asked about risks or dilution effects that investors should watch, Chung said the focus should be on Bitcoin holdings per share, rather than dilution alone. 

The perceived net value of a Bitcoin treasury strategy, he said, “depends on the market’s confidence in the company’s ability to grow Bitcoin per share over time.”