Metaplanet Stock Falls 5% as Capital Group Emerges as Largest Shareholder

Metaplanet stock is down by over 5% in Tokyo after Capital Group takes the top spot as its largest shareholder.

A new filing on September 25 shows the global investment firm now holds 11.45% of the company, worth about $500 million.

Notably, the change shifts the balance of Metaplanet’s major shareholders.

Capital Group Steps In With $500 Million Stake

A new filing has confirmed that Capital Group has become the biggest shareholder in Metaplanet.

It is worth noting that the filing, released on September 25, shows the firm now owns 129,918,500 shares.

This equals 11.45% of Metaplanet’s voting rights and is valued at nearly $500 million.

Only a month earlier, Capital Group’s shareholding stood at 8.31%. That left the firm in third place among Metaplanet’s top investors.

With the increase, Capital Group has moved ahead of National Financial Services, which holds a 7.40% stake.

The filing noted that National Financial Services did not change its position but was pushed down as Capital Group expanded its stake.

Metaplanet confirmed the details in its own statement. The firm explained that the update reflects an active increase in Capital Group’s position rather than a passive change from share dilution.

The company also pointed out that the holding gives Capital Group more than 10% of voting rights.

That level of control means the firm could play a larger role in future decisions. Simon Gerovich, the President and CEO of Metaplanet, commented on the update in a short post on X.

He noted that Capital Group’s stake is now worth nearly $500 million and called it an important point in its progress.

Metaplanet Stock Slides After Shareholder News

Meanwhile, despite the size of Capital Group’s investment, Metaplanet’s stock fell on the day of the disclosure, despite recent BTC purchases.

Shares dropped 4.99% to close at ¥533. The Metaplanet stock traded between ¥532 and ¥564 during the session, as the previous day’s close was ¥561.

The fall brings Metaplanet’s market capitalization to ¥608.14 billion. Average daily trading volume stands at about 53.69 million shares.

The company’s price-to-earnings ratio is pegged at 61.71. Investors often react quickly to changes in large holdings.

Some may see Capital Group’s move as a strong signal of confidence, while others may be cautious about what influence the shareholder could bring.

Metaplanet made clear that the company’s outlook has not changed. No new plans or strategy updates were announced alongside the filing.

For now, the only change is the ranking of top shareholders. Market watchers say it is common for trading activity to pick up after large moves by institutional investors.

However, whether Capital Group decides to increase its stake further will likely draw attention in the coming months.

Company Keeps Building Its Bitcoin Holdings

Alongside the shareholder news, Metaplanet continues to add to its Bitcoin reserves.

On September 22, Metaplanet announced the purchase of 5,419 Bitcoin. The average purchase price was $116,724 per coin, bringing the total value of the buy to about $2.71 billion.

Notably, this latest purchase increases Metaplanet’s Bitcoin treasury to 25,555 coins. At current prices, the holdings are worth close to $3 billion.

The company’s average purchase price across its entire position is $106,065 per coin. Based on market levels, the firm holds an unrealized profit of around $290 million.

The company also reported that its quarter-to-date Bitcoin yield has risen to 10.3%.

With this latest increase, Metaplanet now holds more Bitcoin than the Bullish crypto exchange, according to data from Bitcoin Treasuries.

The company has not indicated any change to its Bitcoin strategy. Recent filings and announcements show that it continues to view Bitcoin as a core part of its assets.