Metaplanet shares moved sharply higher at the start of the week as the crypto rally lifted demand for companies built around Bitcoin treasury exposure. On Tuesday, the Japan-listed stock rose 10.7%. The move followed a 19.17% premium close at $3.12 in the U.S. over-the-counter market a day earlier, a signal that buying interest had already accelerated outside Japan.
Quarterly Bitcoin buying lifts total holdings
The company recently said it purchased 4,279 BTC during the fourth quarter of 2025, bringing total holdings to 35,102 BTC. At current market prices, that stash is worth about $3.29 billion. The report described Metaplanet less as a conventional operating business and more as a balance-sheet vehicle tied closely to Bitcoin price movements. For investors backing this model, the larger reserve is seen as part of a long-term value preservation strategy.
The rally was not limited to Japan. Metaplanet shares trading in the U.S. also posted strong gains, pointing to revived global interest in listed firms that use Bitcoin as a treasury asset. With traditional markets still showing uneven performance, some investors are again turning to crypto-linked equities as an alternative growth trade.
U.S. Bitcoin treasury names and crypto stocks rise together
Other major Bitcoin treasury companies also advanced. Strategy, led by Michael Saylor, gained 4.81%, while Mara Holdings rose 6.86%. The report noted that even a modest move in Bitcoin can have an outsized effect on companies holding large crypto positions on their balance sheets, and that dynamic was visible across the sector.
Broader U.S.-listed crypto names joined the rebound. Bakkt, the trading and rewards platform, climbed 31.47% in a single session to close at $14.79. KindlyMD, which is shifting from healthcare toward a Bitcoin treasury model, rose 24.38% to $0.51. Coinbase added 7.77%. A report published the same day said Goldman Sachs upgraded Coinbase from “neutral” to “buy,” citing product launches and growth in infrastructure revenue as factors improving its long-term growth profile.
Mining and hardware stocks also post strong gains
The move extended into miners and hardware makers. American Bitcoin Corp, backed by Eric Trump and Donald Trump Jr., rose 13.48%, while Hut 8 gained 13.6%. Hardware manufacturer Canaan added 8.7%. At the time referenced in the report, Bitcoin was trading around $93,600, and double-digit gains in Ethereum and XRP added to the rotation back into risk assets.