The cryptocurrency space has witnessed yet another significant investment move, as Metaplanet, a reputable Japanese treasury firm, took a calculated step in the final quarter of 2025. The company acquired 4,279 BTC for a staggering $451 million, expanding its Bitcoin holdings to an impressive total of 35,102 BTC. This acquisition was funded through a $500 million credit facility coupled with new share issuances, showcasing Metaplanet’s confidence even while Bitcoin was trading approximately 17% below its recent peak.
Despite experiencing a decline in stock price—7.95% in Tokyo and 4.26% in U.S. markets—Metaplanet’s Bitcoin treasury is valued at around $3.78 billion. This underlines the firm’s belief in Bitcoin’s long-term potential as a store of value, aligning with a broader institutional trend where Bitcoin’s market cap reached a remarkable $1.65 trillion, reflecting growing institutional interest.
In 2025 alone, Metaplanet’s Bitcoin Income business generated $54 million in revenue through option-based strategies, illustrating how Bitcoin can serve as a productive asset. This innovative income generation contrasts sharply with traditional treasuries that offer minimal yields due to prevailing central bank policies. Rather than merely holding onto the Bitcoin, Metaplanet has demonstrated an ability to capitalize on its yield potential.
Simon Gerovich, a notable figure within the firm, shared insights about their latest acquisition on social media, detailing how Metaplanet acquired Bitcoin at an average price of approximately $105,412. The firm holds 35,102 BTC acquired at about $107,606 per coin as of the end of December 2025.
Metaplanet’s strategy is not solely focused on Bitcoin price appreciation but also emphasizes its utility as a yield-generation tool. The firm intends to further monetize its Bitcoin treasury utilizing regulated lending platforms and strategic arbitrage, aiming to earn funding rate spreads that eclipse fixed-income benchmarks. By adopting this approach, Metaplanet differentiates itself from others that only consider Bitcoin as a speculative asset.
The firm’s disciplined accumulation amid Bitcoin’s price fluctuations showcases a commitment to long-term growth. Although Metaplanet faces a $520 million unrealized loss, the stock appears undervalued when compared to its substantial Bitcoin holdings. With a market NAV (mNAV) of 1.02, it seems the company is strategically positioned for a potential price recovery in 2026.
Looking ahead, Metaplanet has set a target to hold 100,000 BTC by 2026, reinforcing its long-term belief in Bitcoin’s role as an effective hedge against fiat currencies. While some critics may point to the short-term losses, the company remains focused on generating yield and accumulating assets, fostering a cycle that could attract further institutional investment as Bitcoin’s price stabilizes and potentially rises.
In summary, Metaplanet’s multi-faceted strategy of Bitcoin accumulation and income generation positions it well to navigate the volatile landscape of cryptocurrency, with eyes firmly set on the promising horizon of 2026.
