Metaplanet Buys $632M in Bitcoin, Securing Spot as Fifth-Largest Listed BTC Holder

Metaplanet (3350) has surpassed Bullish (BLSH) to become the fifth-largest corporate holder of bitcoin, following a $632.5 million purchase of 5,419 BTC at an average price of $116,724 per coin.

The move adds to a remarkable year-to-date gain of 395.1% in bitcoin for 2025. Metaplanet now holds 25,555 BTC, valued at approximately $2.71 billion, with an average cost basis of $106,065 per coin.

Dylan LeClair, head of bitcoin strategy at Metaplanet, described the acquisition as “just the first tranche”, noting that the company recently raised $1.4 billion to continue expanding its bitcoin portfolio.

Capital B Adds to Holdings
In a separate transaction, Capital B (ALCPB) purchased 551 BTC for $64.29 million, averaging $116,672 per bitcoin. This increases Capital B’s total holdings to 2,800 BTC.

Market Impact
Despite these significant acquisitions, both companies are trading below their recent purchase prices, as bitcoin dipped to a low of $111,700 before recovering slightly to just under $113,000.

Metaplanet’s shares closed 3% lower at 589 yen, while Capital B fell 1% to 1.14 euros in European trading. Both remain far below their all-time highs, with Metaplanet down 73% and Capital B down 81%.