Metaplanet Buys 2,823 Bitcoin, Lifting Treasury to 43,000 BTC

Bitcoin News

Metaplanet, the Tokyo-listed investment firm, purchased 2,823 Bitcoin (BTC) in the second quarter, lifting its total treasury to 43,000 BTC, according to the company's July 2 investor-relations disclosure. The buy, funded with roughly 35.886 billion yen at an average price near 12.7 million yen per coin, extends a reserve strategy that has made the firm one of the largest public corporate holders of the asset. Metaplanet closed the first quarter with 40,177 BTC, and its latest accumulation underscores continued institutional appetite for treating Bitcoin as a balance-sheet reserve rather than a speculative position.

The disclosure detailed how the company trimmed its effective purchase cost. Metaplanet sold Bitcoin options during the quarter, generating about $10.95 million — roughly 1.747 billion yen — in income that it subtracted from its acquisition spend. That reduced the effective quarterly investment to 34.138 billion yen and pulled the effective per-coin cost down to approximately 12.093 million yen. Across its entire holdings, the firm's overall average cost slipped from 15.516 million yen to 15.332 million yen per Bitcoin. The approach shows a treasury team pursuing capital efficiency, though options exposure adds volatility-linked risk worth monitoring closely.

Metaplanet also reported a 6.6% BTC Yield for the quarter, a proprietary metric the company uses to track changes in its total Bitcoin holdings relative to fully diluted share count. Over the same period it logged a BTC Gain of 2,637 BTC and a BTC ¥ Gain of 25.082 billion yen, figures the firm presents to show how much its accumulation added on a per-share basis. These metrics frame the treasury as accretive to shareholders when measured in Bitcoin terms — a framing that has become central to how Bitcoin-heavy public companies communicate performance beyond conventional revenue and earnings lines.

Not every line moved higher. The firm's Bitcoin Income Generation business booked 1.747 billion yen in operating revenue for the second quarter of its fiscal year ending December 31, 2026 — down roughly 41% from 2.969 billion yen in the prior quarter and nearly 59% below the 4.242 billion yen peak recorded in the fourth quarter of fiscal 2025. The unit, which uses Bitcoin options as part of treasury operations, has become a closely watched revenue stream. The disclosure confirms softer quarterly income even as the company kept expanding its underlying reserve.

On a trailing-twelve-month basis, the Bitcoin income unit generated 11.396 billion yen, edging up from 10.780 billion yen in the previous period — a longer-window figure the company favors to smooth quarterly swings. First-half fiscal 2026 revenue from the business stood at 4.717 billion yen. The purchase landed while Metaplanet's shares traded near a 52-week low, an echo of bear market pressure that has kept investor attention fixed on its Bitcoin net asset value rather than trading revenue. That divergence — a growing reserve against a pressured share price — has defined the stock's recent narrative.

The firm reiterated an ambitious long-term goal: holding 210,000 BTC by the end of 2027, equivalent to roughly 1% of Bitcoin's fixed 21 million supply, an amount ultimately secured through ASIC mining. That target places Metaplanet alongside larger corporate holders such as Strategy and Twenty One Capital in the race to accumulate the asset. The company bought its first-quarter stack of 40,177 BTC for about $4.18 billion at an average near $104,000 per coin — well below Bitcoin's all-time high — and its steady quarterly additions suggest management intends to keep buying through price cycles.

COINOTAG's proprietary 42-indicator composite scoring engine rates the $61,115 resistance at 75/100, driven by the confluence of a high-volume node, the R1 pivot and the 0.114 Fibonacci retracement, while the $57,768 support scores 77/100 on the previous-day low and lower Bollinger Band. With spot near $60,181 (up 2.55% on the day) and RSI at 39, the tape sits in a downtrend despite a bullish MACD cross. Our derivatives read shows a 0.0067% funding rate and a 1.97 long/short ratio (66% long) against $11.94 billion in open interest — crowded longs into Extreme Fear (F&G 19/100). A daily close above $61,115 favors bulls; losing $57,768 invalidates the recovery thesis.