Japanese company Metaplanet (TYO: 3350), often dubbed “Asia’s MicroStrategy,” announced on Tuesday that it has made another large Bitcoin purchase worth more than $451 million. The disclosure came as the company’s shares fell nearly 8% to 405 yen, while Bitcoin remains under sustained selling pressure.
Metaplanet’s Bitcoin Treasury Expands to 35,102 BTC
According to an official announcement dated December 30, Metaplanet acquired an additional 4,279 BTC during Q4 2025 at an average price of $105,412 per coin. With this latest purchase, the company’s total Bitcoin holdings have grown to 35,102 BTC, valued at more than $3 billion.
In aggregate, Metaplanet has spent approximately $3.78 billion on its Bitcoin position, with an average acquisition price of $107,606 per BTC. Following the recent market downturn, the firm is now sitting on an unrealized loss of roughly $520.34 million. Its mNAV ratio dropped sharply from 1.17 to 1.03 in a single day after the announcement.
The company also confirmed the completion of payments related to the issuance of 23,610,000 MERCURY Class B preferred shares through a third-party allotment. Metaplanet expects to report operating revenue of JPY 4.242 billion from its “Bitcoin Income” business in Q4 2025.
CEO Simon Gerovich commented on the purchase via X, stating that the world’s fourth-largest corporate Bitcoin treasury has achieved a year-to-date BTC yield of 568.2% under its accelerated Bitcoin strategy.
Shares Slide Despite Aggressive Bitcoin Expansion
Metaplanet shares (TYO: 3350) closed down 7.95% at 405 JPY. The decline came as Bitcoin failed to hold above the $90,000 level and fell below $87,000 over the past 24 hours. The stock traded between a daily low of 403 yen and a high of 421 yen, with trading volume below its long-term average of around 34 million shares.
According to Yahoo Finance, Metaplanet’s stock is still up nearly 2% for the month, supported by a recovery in mNAV above the 1× level and continued institutional backing.
In the U.S. market, Metaplanet shares trading under the MTPLF ticker closed 4.25% lower at $2.70 on Monday, but remain up about 16% year-to-date in 2025. Meanwhile, MPJPY fell 4.20% to $2.74 and has now dropped nearly 6% since its debut weeks ago.
Bitcoin Remains Under Pressure as Derivatives Signal Mixed Sentiment
At the time of writing, Bitcoin was trading down more than 2% at around $87,301. Over the past 24 hours, BTC moved within a range of $86,717 to $90,299, while trading volume increased by 38%.
Data from CoinGlass shows mixed sentiment in the derivatives market. Total Bitcoin futures open interest fell by more than 5% in 24 hours to $57.41 billion. Open interest on CME dropped by nearly 12%, while Binance saw a decline of around 5%.
Overall, the situation highlights growing tension between Metaplanet’s aggressive Bitcoin accumulation strategy and a market that remains cautious amid ongoing price volatility and broader macroeconomic uncertainty.
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