Metaplanet Overtakes Musk’s Tesla To Become Seventh Largest Corporate Bitcoin Holder After Latest Buy

Metaplanet has scaled up its Bitcoin buys at a rapid pace. The Japanese investment firm has now overtaken Elon Musk’s Tesla in corporate Bitcoin holdings after purchasing an additional 1,234 BTC. Metaplanet Grows Bitcoin Treasury To 12,345 BTC The Tokyo-listed firm disclosed on Thursday that it had acquired the Bitcoin stash at around $107,557 per BTC. The latest acquisition has lifted Metaplanet’s Bitcoin cache to 12,345 BTC at an average price of $98,303. Based on Bitcoin’s current market price of $107,460, the firm holds around $1.3 billion worth of the world’s foremost cryptocurrency. Data from Bitcoin Treasuries shows that Metaplanet is now the seventh-biggest publicly listed corporate Bitcoin holder, usurping Tesla, which holds 11,509 BTC on its books. The firm is now within striking distance of Bitcoin miner CleanSpark, with its 12,502 BTC cache. Listed on the Tokyo Stock Exchange, Metaplanet is Japan’s first and only company dedicated to building a strategic Bitcoin reserve, a strategy which has given it a market cap of $6.2 billion and made it the 2,434th most valuable firm worldwide. Accumulation Strategy Drawing its inspiration from Michael Saylor’s Strategy, Metaplanet has funded its Bitcoin purchases through a combination of stock and bond sales as part of its bold “555 million plan” to secure 1% of Bitcoin’s supply. Metaplanet, which rebranded in 2024 from a hotelier to a dedicated Bitcoin treasury, has pledged to accumulate 210,000 BTC by the end of 2027 . The company targets to accumulate 30,000 BTC by year-end. The investment firm previously established its Florida-based subsidiary , Metaplanet Treasury Corp, on May 1, aimed at boosting its global Bitcoin treasury operations. Metaplanet’s board has approved a capital injection of up to $5 billion for the U.S. unit, in a bid to accelerate its BTC acquisition strategy.

Source: ZyCrypto