Japan-based Metaplanet (3350) has solidified its position in the cryptocurrency market by acquiring 5,075 Bitcoin (BTC) during the first quarter of 2026. This substantial purchase, valued at approximately $398 million, propels the company to become the third-largest corporate holder of Bitcoin worldwide.

Significant Bitcoin Acquisition

The recent acquisition brings Metaplanet’s total Bitcoin holdings to 40,177 BTC, currently valued at around $3.9 billion. The company’s average cost basis for these holdings is approximately $97,000 per Bitcoin. This move follows a period of strategic accumulation, with the average purchase price for the latest tranche being around $78,000 per coin.

Global Bitcoin Treasury Rankings

Metaplanet’s increased holdings have resulted in it surpassing MARA Holdings in the rankings of corporate Bitcoin treasuries. Currently, Strategy holds the largest corporate Bitcoin treasury with over 762,000 BTC. Twenty One Capital follows in second place with 43,514 BTC.

Broader Market Trends

Privacy in Blockchain

As blockchain technology gains wider adoption, the privacy of transactions is becoming increasingly scrutinized. CoinDesk Research highlights that while some privacy models weaken with growing blockchain data, encryption-based models like Zcash are strengthening. The research maps five privacy approaches and assesses their durability against improving AI capabilities.

Bitcoin Liquidations

Recent market conditions, including falling prices and consolidation, are prompting some public companies and sovereign holders to liquidate their Bitcoin reserves. This is being done to address financial needs such as debt repayment and to strategically shift focus towards areas like Artificial Intelligence (AI) and High-Performance Computing (HPC).

Recent Sales by Public Companies

Several public firms, including Empery Digital, Genius Group, and Riot Platforms, have recently sold Bitcoin. These sales were attributed to factors like debt repayment, liquidity requirements, and strategic pivots into new technologies.