Metaplanet Becomes Fifth Largest BTC Treasury Holder

September 22, 2025

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Company overtakes Bullish with $632 million purchase as both Metaplanet and Capital B shares trade lower.

By James Van Straten|Edited by Parikshit Mishra

Sep 22, 2025, 7:49 a.m.

Close up of the red circle at the center of the Japanese flag. (DavidRockDesign/Pixabay)
  • Metaplanet becomes the fifth largest corporate bitcoin holder
  • Metaplanet adds 5,419 BTC in $632 million purchase, taking its total holdings to 25,555 BTC.
  • Capital B acquired 551 BTC, bringing its total reserves to 2,800 BTC.
  • Shares of both firms continue to struggle, trading well below historic peaks

Metaplanet (3350) has become the fifth largest corporate bitcoin BTC$112,799.30 holder, overtaking Bullish (BLSH), after acquiring 5,419 BTC for $632.53 million at an average price of $116,724 per bitcoin.

This purchase contributed to a year-to-date bitcoin yield of 395.1% for 2025. 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.

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Metaplanet’s head of bitcoin strategy Dylan LeClair noted that this purchase represents “just the first tranche,” as Metaplanet has recently raised $1.4 billion to continue expanding its holdings.

In a separate move, Capital B (ALCPB) acquired 551 BTC for $64.29 million at an average price of $116,672. This brings Capital B’s total bitcoin reserves to 2,800 BTC.

Despite these large purchases, both companies are currently in the red on their recent purchase as bitcoin dipped to as low as $111,700 before slightly recovering to just under $113,000.

Metaplanet’s shares finished 3% lower at 589 yen, while ALCPB slipped 1% in European trading to 1.14 euro. Both are sharply down from their all-time highs, with Metaplanet shares 73% lower, and ALCPB down 81%.

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