Metaplanet spends a whopping $405 million, surpassing Strategy to become the top Bitcoin buyer of the week

According to SoSoValue data, as of April 6 in U.S. Eastern Time, Japanese listed company Metaplanet’s single-week purchases last week totaled $405 million and 5,075 BTC, surpassing Strategy (formerly MicroStrategy)’s $330 million. It has become the largest single-week BTC acquirer among global listed companies this week, bringing its total holdings to 40,177 BTC.

Global Listed Companies’ BTC Procurement Rankings This Week

This week, a total of three publicly announced companies purchased Bitcoin, with combined net purchases of $735 million:

Metaplanet (Japan): Purchased 5,075 BTC at an average price of $79,898, investing $405 million, with total holdings reaching 40,177 BTC

Strategy (United States): Purchased 4,871 BTC at an average price of $67,718, investing $330 million, with total holdings reaching 766,970 BTC

BHODL (United Kingdom): Invested $68,000 on April 2 to purchase 1 BTC

It is worth noting that the average price difference between Metaplanet and Strategy is close to $12,000, reflecting the two companies’ different market-timing selection strategies. At the same time, crypto miner MARA is showing the opposite move—this week it transferred out 250 BTC (about $17.37 million). Previously, between March 4 and March 25, it had already sold a cumulative 15,133 BTC (about $1.1 billion). The divergence in coin-holding strategies between mining companies and reserve-type companies continues to widen.

As of now, global listed companies (excluding mining firms) hold a total of 1,033,280 BTC, up 0.97% week over week. The current market valuation is about $71.78 billion, accounting for 5.2% of Bitcoin’s circulating market value.

Metaplanet CEO Responds to JPX Regulation: Sticking to Bitcoin’s Core Strategy

Metaplanet’s large-scale increase in holdings this week took place amid rising regulatory pressure in Japan. The Japan Exchange Group (JPX) recently released consultation guidelines that could delay or block companies whose major assets are cryptocurrencies from being included in major benchmark indexes such as the TOPIX. If a listed company’s crypto risk exposure exceeds a certain threshold, it may also face the risk of being removed.

In direct response, Metaplanet CEO Simon Gerovich said the company will closely cooperate with regulators and actively participate in the consultation process. He explained: “Metaplanet was founded on a simple belief—that Japanese investors should be able to access Bitcoin directly through transparent companies listed on the Tokyo Stock Exchange (TSE). But what we’re building is far more than a vault.” He also mentioned the Project Nova plan being advanced, aiming to strengthen “Japan’s Bitcoin ecosystem” by expanding new businesses and strategic partnerships.

Metaplanet currently has more than 216,000 Japanese shareholders. After upgrading to a mid-cap company in October 2025, it has been included in the FTSE Japan Index (FTSE Japan) and the FTSE All-World Index (FTSE All-World), drawing broader attention from institutional investors.

Potential Market Risks of JPX’s New Rules: A Cautionary Tale for Strategy

The market impact of JPX regulatory risks already has a precedent that can be referenced. In late 2025 to early 2026, when MSCI considered limiting companies highly correlated with Bitcoin from being included in indexes, Strategy (MSTR)’s stock price fell from $365 to $147. Analysts estimated that passive funds associated with MSCI may have already pulled out $3 billion to $9 billion. MSCI ultimately withdrew the proposal, but the incident clearly demonstrated the systematic impact of index decisions on the stock prices of crypto-related listed companies.

If JPX ultimately advances the delisting rule, funds tracking the TOPIX index may be forced to adjust their holdings of Metaplanet. This selling pressure has no direct link to the company’s own performance. As of now, JPX is still collecting opinions from various stakeholders, and the timeline for the final decision has not been confirmed.

Frequently Asked Questions

Why could Metaplanet this week surpass Strategy to become the largest BTC buyer?

Metaplanet purchased 5,075 BTC for $405 million this week. Its procurement amount exceeded Strategy’s $330 million, making it the largest single-week BTC acquirer among global listed companies (excluding mining firms) this week. Metaplanet’s average price is about $79,898, higher than Strategy’s $67,718, reflecting the two companies’ different buy-timing strategies.

What impact could JPX’s new rules have on Metaplanet’s index status?

If JPX ultimately implements the delisting rule, Metaplanet may not be able to be included in the TOPIX index as scheduled during the October 2026 index rebalancing. This could force passive funds tracking the index to cut their positions, creating technical downward pressure on the stock price, which is unrelated to the company’s fundamentals.

How much Bitcoin do global listed companies currently hold?

Based on the latest data, global listed companies (excluding mining firms) hold a total of 1,033,280 BTC, representing 5.2% of Bitcoin’s total circulating market value. The current valuation is about $71.78 billion, up 0.97% week over week.