tl;dr
Metaplanet surged into the top 5 corporate Bitcoin holders by buying 5,419 BTC for $632.5M, yielding a 395% YTD return. Despite a 3% stock drop, the company plans to expand holdings with a $1.4B war chest, as Bitcoin fluctuates amid institutional bets and market skepticism.
**Metaplanet Surpasses Bullish as Fifth Largest Corporate Bitcoin Holder in Bold Move**
In a striking shift within the corporate Bitcoin landscape, Metaplanet (3350) has vaulted into the fifth-largest corporate Bitcoin holder, surpassing Bullish (BLSH), after snapping up 5,419 BTC for $632.53 million at an average price of $116,724. The purchase has already delivered a jaw-dropping 395.1% year-to-date return on Bitcoin for 2025, cementing the company’s aggressive bet on the asset.
Metaplanet now holds a total of 25,555 BTC, valued at approximately $2.71 billion, with an average cost basis of $106,065 per Bitcoin. Dylan LeClair, Metaplanet’s head of Bitcoin strategy, hinted at even bigger ambitions, stating the purchase was “just the first tranche” as the company recently raised $1.4 billion to expand its holdings. This move underscores a growing trend of institutional players doubling down on Bitcoin, even as the market fluctuates wildly.
Meanwhile, Capital B (ALCPB) also made waves by acquiring 551 BTC for $64.29 million at $116,672 per coin, boosting its total reserves to 2,800 BTC. Yet, both companies face headwinds: Bitcoin recently dipped to $111,700 before recovering slightly to just under $113,000, leaving their recent purchases in the red.
The stock market has reacted with caution. Metaplanet’s shares closed 3% lower at 589 yen, while ALCPB slipped 1% in European trading to 1.14 euro. Both are far from their all-time highs—Metaplanet’s stock is 73% below its peak, and ALCPB has fallen 81%. This divergence highlights the risks of betting on Bitcoin’s volatile swings while navigating broader market skepticism.
For now, Metaplanet’s bold strategy—and its $1.4 billion war chest—positions it as a key player in the corporate Bitcoin race. But as the market continues to test even the most confident investors, the question remains: Will this bet pay off, or will the next dip spell trouble for these crypto-focused giants?