Bitcoin News Today: Metaplanet's Bitcoin Play Fuels Record Derivatives Revenue, $3.78B Treasury Grows

Metaplanet Inc. announced on December 30, 2025, that it has accumulated 4,279 bitcoins in the fourth quarter at an average price of $105,412 per unit, amounting to a $451 million investment. The move brings the company's total Bitcoin holdings to 35,102 BTC, valued at approximately $3.78 billion. CEO Simon Gerovich confirmed the strategic accumulation, highlighting a year-to-date BTC Yield of 568.2%.

The company's Bitcoin Income Generation business also exceeded its full-year revenue forecast, posting JPY 8.58 billion in revenue for fiscal year 2025-nearly JPY 2.3 billion above its previous estimate. The business relies on derivatives and collateral-secured option strategies to generate recurring income, though it is separate from Metaplanet's core Bitcoin treasury.

Investor attention remains focused on Metaplanet's disciplined approach to Bitcoin acquisition and its use of derivatives to enhance yield. With Bitcoin trading below the company's average cost of $107,606 for much of the quarter, some questioned the reported yield. Community members clarified that the metric reflects balance-sheet growth and option premium income, not unrealized gains .

Why the Standoff Happened

Metaplanet's aggressive accumulation in Q4 capped off a year of strategic Bitcoin buying, which has positioned the company among the largest publicly disclosed corporate Bitcoin holders globally. The firm's BTC Yield metric measures the growth of its Bitcoin holdings relative to its fully diluted share count, rather than relying on market price movements. This focus on balance-sheet growth has fueled both interest and debate in the market.

The company also executed Bitcoin option-based strategies during the quarter, diversifying its approach to income generation. These strategies contributed to the Bitcoin Income Business's significant revenue boost, particularly in Q4. The business now accounts for a substantial portion of Metaplanet's operations and has outperformed expectations .

How Markets Reacted

Metaplanet's Q4 performance and Bitcoin strategy have drawn attention from investors and analysts. The company's Bitcoin holdings now total 35,102 BTC, with a total investment of $3.78 billion, reinforcing its commitment to Bitcoin as a core asset. The company has also maintained operational separation between its long-term Bitcoin treasury and its income generation activities .

The Bitcoin Income Business reported JPY 4.24 billion in Q4 operating revenue alone, more than sixfold compared to the same period in the prior year. This growth has positioned Metaplanet to revise its consolidated earnings outlook in early 2026. The company's ability to generate recurring revenue through derivatives has added a new dimension to its Bitcoin strategy.

What This Means for Investors

Investors are closely watching whether Metaplanet's approach to Bitcoin derivatives and income generation can be sustained in 2026. The company emphasized that its Bitcoin treasury remains untouched by derivatives exposure, which could provide stability in a volatile market. However, the sustainability of high-yield metrics remains a key question for the market.

As 2026 approaches, Metaplanet is set to continue its Bitcoin accumulation strategy while refining its income generation models. The company's disciplined approach and financial performance have drawn comparisons to other corporate Bitcoin treasuries, including Strategy Inc. (MSTR) and Bitmine. These entities are now reshaping the landscape of institutional Bitcoin adoption .