Metaplanet Inc.(OTC:MTPLF) acquired 4,279 BTC for $451 million in Q4 at an average price of $105,412 per Bitcoin (CRYPTO: BTC) as the stock sits at the critical $2.5 price point.
Fourth-Largest Public Bitcoin Holder By Volume
The Tokyo-listed company now holds 35,102 BTC acquired for $3.78 billion at an average purchase price of $107,607, making it the fourth-largest publicly traded Bitcoin holder behind Strategy Inc. (NASDAQ:MSTR), Marathon Digital Holdings (NASDAQ:MARA), and Riot Platforms (NASDAQ:RIOT).
Metaplanet achieved BTC Yield of 568.2% year-to-date in 2025 and targets owning 210,000 BTC by the end of 2027—currently worth approximately $18.5 billion at current prices.
The company’s shares rose 8% this year to close at 405 yen ($2.60), but remain down 80% from the all-time high touched in June.
Bitcoin Income Business Generates $55M Annually
Metaplanet has built a Bitcoin income generation business that uses derivatives to produce recurring revenue while supporting long-term Bitcoin holdings.
The company expects the unit to generate around $55 million in revenue for the full fiscal year 2025.
The firm’s multiple to net asset value (mNAV) hovers just above 1, meaning the company trades roughly in line with its Bitcoin holdings with minimal premium.
Board Approved Aggressive Capital Raise Plan
An extraordinary shareholder meeting approved 5 out of 5 proposals designed to unlock massive capital for Bitcoin purchases, according to Dylan LeClair, Metaplanet’s strategy director.
The board doubled authorized preferred shares from 277.5 million to 555 million for both Class A and Class B, while amending Class A shares to a monthly floating-rate dividend structure called MARS (Metaplanet Adjustable Rate Security) designed to deliver price stability.
Class B shares now pay quarterly dividends and include a 10-year 130% issuer call, meaning Metaplanet can buy shares back at 130% of issuance price, plus investor put rights if the company fails to IPO within one year.
The board also approved issuing Class B preferred shares to overseas institutional investors, opening the door to international capital.
Chart Shows $2.50 Is The Line In The Sand
Metaplanet Inc. Technical Analysis By TradingView
MTPLF is down 4.26%, showing signs of a potential bottoming formation after a prolonged downtrend from August highs near $9.
The stock has been consolidating within a descending channel for five months, with price action recently testing and holding above the psychologically significant $2.5 support level multiple times in November-December.
The SAR indicator at $3.01 represents the immediate hurdle that needs to be cleared for any meaningful upside momentum.
A sustained break above this level would open the door toward $3.73 (100 EMA), then $4 (200 EMA).
Failure to hold $2.50 support would trigger a breakdown toward the lower channel boundary around $2.00-$2.10, representing a 26% downside risk from current levels.
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