Metaplanet Buys 5,075 BTC, Tops MARA with 40,177 Bitcoin Holdings
Metaplanet acquired 5,075 BTC for approximately $398 million in Q1 2026, lifting its holdings to 40,177 BTC and vaulting past MARA. Its average cost basis of about $97,000 per coin underpins a ‘555 Million Plan’ targeting 100,000 BTC by end-2026, backed by $255 million raised.
1. Rapid Ascent to Third Largest Holder
Metaplanet purchased 5,075 BTC during Q1 2026 for roughly $398 million, increasing its total stash to 40,177 coins. This acquisition pushed the company past MARA Holdings to become the third-largest publicly traded bitcoin treasury.
2. MARA’s $1.1 B Sell-Off Opens the Door
MARA sold 15,133 BTC between March 4 and March 25, raising about $1.1 billion and reducing its holdings from 53,822 to 38,689 BTC. That balance sheet move, aimed at repurchasing convertible notes due in 2030 and 2031, created the opening Metaplanet capitalized on.
3. Accumulation Strategy and Cost Basis
Metaplanet’s Q1 purchases averaged near $78,000 per coin, yielding a total cost basis of about $97,000 across all holdings. The firm has achieved a 2.8% BTC yield year-to-date while maintaining a long-term accumulation focus.
4. ’555 Million Plan’ and Funding Roadmap
Under its ‘555 Million Plan,’ Metaplanet aims for 100,000 BTC by year-end 2026 and 210,000 by end-2027. To fuel growth it raised $255 million from global investors, with potential for an additional $276 million through warrants and offerings.