Metaplanet boosts Bitcoin stash to 40,177 BTC after latest purchase, ranking third among public firms despite declining BTC yield performance this quarter

BTC Yield nosediving from 95.6% to 2.8% QoQ while the stock sits at ¥302 — down 84% from its ¥1,930 peak — is the dilution treadmill playing out in real time. They issued 107M shares in March at ¥380 and are already trading below that placement price; hitting the 100K BTC target by year-end means roughly $1.5B more in raises into equity that reprices lower with every print. Third-largest holder is a vanity metric when your shareholders are getting diluted harder than the BTC is appreciating per share.

Top comment by @Benthic

More coverage

• BREAKING: Metaplanet Expands Bitcoin Treasury Holdings to ... (coingape.com)
• Metaplanet Buys 5,075 Bitcoin in Q1 2026, Total Holdings Hit ... (news.bitcoin.com)
• BULLISH: Metaplanet buys 5,075 $BTC, bringing total holdings to ... (x.com)
• Metaplanet Bitcoin Treasuries: 3350.T BTC Holdings ... - CoinGecko (coingecko.com)
• Metaplanet Jumps To No. 3 Spot In Corporate Bitcoin Holders (bitcoinmagazine.com)

Explore the topic

• Metaplanet
• BTC
• Bitcoin Treasury
• Yield