Metaplanet (3350) has overtaken Bullish (BLSH) to become the fifth-largest corporate holder of bitcoin, following a $632.5 million acquisition of 5,419 BTC at an average price of $116,724 per coin.
The purchase adds to a year-to-date bitcoin gain of 395.1% for 2025, bringing Metaplanet’s total holdings to 25,555 BTC, valued at roughly $2.71 billion, with an average cost basis of $106,065 per bitcoin.
Dylan LeClair, Metaplanet’s head of bitcoin strategy, emphasized that this acquisition is “just the first tranche”, noting that the company recently raised $1.4 billion to continue expanding its bitcoin portfolio.
Capital B Expands Reserves
Separately, Capital B (ALCPB) acquired 551 BTC for $64.29 million, at an average price of $116,672 per bitcoin, increasing its total reserves to 2,800 BTC.
Market Impact
Despite these sizable acquisitions, both companies are trading below their recent purchase prices as bitcoin dipped to a low of $111,700 before recovering slightly to just under $113,000.
Metaplanet shares closed 3% lower at 589 yen, while Capital B slipped 1% to 1.14 euros in European trading. Both remain significantly below their all-time highs, with Metaplanet down 73% and Capital B down 81%.
