Japanese company Metaplanet, which holds the world’s fourth-largest Bitcoin (BTC) corporate treasury, is in a cooling phase in its accumulation strategy.
Metaplanet has not made any Bitcoin purchases since September 29th, when it added 5,288 BTC to its reserves. Currently, its reserves amount to 30,823 BTC, equivalent to $3.4 billion at the asset’s current price.
This chart shows the evolution of Metaplanet’s BTC holdings from January 2024 to December 2025.
but, Metaplanet resumes plans to strengthen position in Bitcoin After signing a $50 million loan using part of its BTC holdings as collateral and pausing purchases, the company aims to resume purchases by the end of 2025.
The company said the deal is part of a larger $500 million financing facility, of which it has drawn down a total of $280 million to date, including this new loan.
funds obtained Aimed to fund additional Bitcoin acquisitions and expand revenue-generating businesses It is based on this digital asset in line with the financial strategy.
This dynamic occurs in the context of fluctuations in Metaplanet’s unrealized gains and losses due to Bitcoin’s volatility. According to research by investment firm Galaxy Digital, the company reported unrealized gains of more than $600 million in early October. As of December 1, the company had recorded approximately $530 million in unrealized losses..
Despite recent fluctuations, Galaxy shows: The market for companies holding Bitcoin in their own vaults has not disappeared.. “If BTC eventually reaches all-time highs, it is likely that some of these companies will recoup a modest capital premium and restart the issuance cycle. However, the hurdle now appears to be higher.”
