In the first quarter, the “Japanese Strategy,” Metaplanet, acquired 5,075 BTC for $405.5 million. The purchase price was approximately $79,898 per coin.
メタプラネット、ビットコインをさらに 5,075 BTC追加取得、保有量は合計 40,177 BTCに pic.twitter.com/gNSipSmXx6
— Metaplanet Inc. (@Metaplanet) April 2, 2026
The firm’s total investment in the leading cryptocurrency has reached approximately $2.6 billion, with an average entry price of $104,106. Metaplanet has risen to the third position among the largest holders of digital gold, trailing only Strategy (762,099 BTC) and Twenty One (43,514 BTC).
🪜 We keep climbing. Now #3 pic.twitter.com/gpGkYjqsuQ
— Simon Gerovich (@gerovich) April 2, 2026
The company reported that in the first three months of 2026, its bitcoin income strategies generated 2,969 million yen ($18.6 million). To reduce cryptocurrency purchase costs, the firm employed options strategies.
During the reporting period, the BTC Yield metric was 2.8%, and the BTC Gain was 876 BTC compared to 3,672 BTC in the previous quarter.
In March, Metaplanet raised $531 million to pursue its long-term goal of acquiring 210,000 BTC. The company adopted a bitcoin strategy in 2024.
Simultaneously, the firm is integrating into the broader digital asset ecosystem. The “Japanese Strategy” established two subsidiaries for venture investments in bitcoin-related projects and invested in the stablecoin JPYC.
Today our Board approved the establishment of two new wholly owned subsidiaries, Metaplanet Ventures and Metaplanet Asset Management.
Metaplanet Ventures is our commitment to Japan’s Bitcoin ecosystem. We’ll be investing ¥4 billion over the next few years into companies building…
— Simon Gerovich (@gerovich) March 12, 2026
For the 2025 fiscal year, Metaplanet recorded an unrealized loss from declining prices of 104.6 billion yen ($680 million). Nevertheless, the company raised its annual revenue forecast from 6.8 billion to 8.58 billion yen, citing unexpectedly high results from its bitcoin income-generating business.
The firm’s shares are trading at $302. Over the past day, the stock price has fallen by 1.9%.
The Other Side
Companies and governments that actively accumulated bitcoin over the past two years are now exiting positions, writes CoinDesk.
Public firms manage over 1.16 million BTC (about 5% of the total cryptocurrency supply), but the trend towards liquidation is gaining momentum. The cause is the weak price dynamics of digital gold, which has been in a downward trend since last autumn.
On April 1, Empery Digital announced the sale of 370 BTC ($24.7 million) at an average price of $66,632. It retains 2,989 BTC on its balance sheet. Part of the funds was used to fully repay a loan, and about 1,800 BTC, previously held as collateral, were released.
The company began forming a bitcoin treasury in July 2025, accumulating a total of approximately 4,000 BTC. The firm’s shares have plummeted 75% from their all-time high.
The AI-focused educational project Genius Group has completely sold off its reserves. As recently as March last year, the startup held 440 BTC. On April 1, 2026, the management sold the last 84 BTC to repay a debt of $8.5 million. The company stated it would resume accumulation once market conditions become more favorable.
Bitcoin miner Riot Platforms continues to sell bitcoins to finance a pivot towards AI. Recently, the company moved 500 BTC (~$34.13 million).
It seems that Bitcoin mining company Riot Platforms sold another 500 $BTC($34.13M) 2 hours ago.https://t.co/x90aGbqgsY pic.twitter.com/cDLvWC79mF
— Lookonchain (@lookonchain) April 1, 2026
In the last two months of 2025, the firm liquidated about $200 million in BTC. The peak reserves reached 19,000 BTC, now around 17,500 BTC.
Since the beginning of this year, the government of Bhutan has sold 3,103 BTC. For several years, the country accumulated digital gold through state mining.
Amid market corrections, crypto treasuries have incurred billion-dollar “paper” losses.