Metaplanet Eyes 100,000 BTC Goal Despite $1.5 Billion Unrealized Loss

Metaplanet has accelerated its digital asset strategy by purchasing 5,075 BTC in the first quarter of 2026, bringing its total holdings to approximately 8,425 BTC. To optimize its entry prices, the firm utilized a sophisticated options-based strategy involving the rotation of cash-secured puts and covered calls, effectively lowering its net acquisition cost. This tactical approach allowed the Japanese firm to outperform MicroStrategy in terms of Bitcoin acquisition efficiency during the quarter. Despite these strategic gains, Metaplanet continues to navigate financial headwinds, with unrealized losses of $1.5 billion resulting from a previous 36% decline in value. Currently the third-largest institutional Bitcoin owner globally, the company remains committed to its long-term target of 100,000 BTC. This expansion highlights the firm's aggressive treasury management amid the inherent volatility of the BTC/USD pair.