Tokyo-listed firm expands hybrid Bitcoin treasury and income strategy after strong year-end performance
Metaplanet significantly expanded its Bitcoin position in late Decembe adding 4,279 BTC at a cost of approximately $450 million. The purchase lifted the company’s total holdings to 35,102 Bitcoin, valued at roughly $3 billion, reinforcing its aggressive Bitcoin-focused treasury strategy as 2025 came to a close.
According to a regulatory filing, the Christmas-period acquisition reflects Metaplanet’s continued commitment to treating Bitcoin as a core balance-sheet asset. The company has steadily increased its BTC reserves throughout 2025, mirroring accumulation strategies adopted by other Bitcoin-centric corporations.
Alongside treasury growth, Metaplanet reported strong results from its Bitcoin Income Generation business, with 2025 revenue reaching 8.58 billion Japanese yen (around $54 million), surpassing earlier projections. The unit uses options-based strategies to generate recurring cash flow while keeping the firm’s long-term Bitcoin holdings untouched.
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Revenue from this segment has grown at an estimated 57% quarterly compounded rate since late 2024, highlighting rapid operational expansion.
Despite operational gains, Metaplanet faces market pressure. Its market-to-Bitcoin net asset value ratio fell below 1 in October, meaning shares traded at a discount to underlying Bitcoin holdings. The company is reviewing how income results will affect full-year earnings guidance, with updated forecasts expected.
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