Metaplanet Surpasses MARA, Becomes Third Largest Bitcoin Holder

Metaplanet, a Japanese company, has officially become the third largest Bitcoin treasury globally, overtaking the publicly traded miner MARA with its current holdings of 43,000 BTC.

In its second quarter report, Metaplanet disclosed that it acquired an additional 2,823 BTC, raising its total from previous holdings. This surpasses MARA’s 36,300 BTC, and places Metaplanet just behind Twenty One Capital, which holds 43,500 BTC.

Comments from Industry Leaders

Michael Saylor, founder of the prominent Bitcoin treasury firm Strategy, expressed his congratulations to Metaplanet, stating, "Congrats to Metaplanet on reaching ₿43,000 and becoming the #3 corporate Bitcoin treasury in the world. You are proving that the Bitcoin treasury strategy is global."

Future Accumulation Goals

Despite its achievements, Metaplanet may struggle to reach its goal of accumulating 100,000 BTC by the end of 2026. The firm's recent pace of Bitcoin accumulation seems to be slowing down. In the final quarter of 2025, it added approximately 5,000 BTC, and a similar amount in the first quarter of 2026, bringing its holdings to 40,100 BTC. However, the latest data indicates that its latest purchases were only half of previous quarter averages.

If Metaplanet continues to add another 10,000 BTC in the next two quarters, its total could reach 53,000 BTC, still falling short of the ambitious 100,000 BTC target.

Trends in the Bitcoin Treasury Sector

The Bitcoin treasury sector is experiencing mixed results. For instance, the Bitcoin miner Riot Platforms divested 500 BTC, valued at $30 million, to support its investments in artificial intelligence. Furthermore, K Wave Media, a South Korean firm listed on Nasdaq, liquidated its entire Bitcoin holdings, selling the remaining 88 BTC to cover a $6 million debt, as per SEC filings.

Overall demand from Bitcoin treasury firms has shown volatility during the first half of 2026. Following a significant drop in February, public firms managed to acquire over 80,000 BTC, with peak demand noted in April. However, the interest waned in May to 46,000 BTC, and dropped dramatically in June to just 7,000 BTC as Bitcoin struggled to maintain a price above $60,000.

Thus, while companies like Metaplanet are increasing their exposure to Bitcoin, the growth has not matched the rapid demands observed in earlier months.