Metaplanet Ramps Up Bitcoin Holdings
In its latest buy, Metaplanet picked up 780 Bitcoin at an average price of roughly $118,622 per coin. This brings the Tokyo-based firm’s total holdings to 17,132 BTC, currently valued at around $1.73 billion. Their average cost basis stands at $101,030 per Bitcoin.
Eyes on the Top Spot
This purchase comes shortly after Michael Saylor revealed plans for yet another sizable Bitcoin buy for his firm. While Saylor’s company still leads the pack with over 600,000 BTC under management, Metaplanet is steadily climbing the ranks and is now one of the biggest corporate holders globally.
Stock Reacts to Bitcoin Push
Following the announcement, Metaplanet’s share price rose 5%. However, it’s worth noting that the stock is still down 6.9% over the past five days and 16.7% over the last month, trading at 1,241 yen.
Big Ambitions for 2027
Just weeks before, Metaplanet made headlines after picking up 797 Bitcoin for $93.6 million when Bitcoin was flirting with a new record high of $122,000. The firm has publicly shared its ambition to accumulate as much as 210,000 BTC by the end of 2027, a bold move that could eventually rival some of the biggest names in the space.
Thanks to its aggressive strategy, Metaplanet has now moved ahead of companies like Tesla, Galaxy Digital, and CleanSpark, claiming the seventh spot among public Bitcoin holders.
Changing Landscape
With more institutions jumping on the Bitcoin bandwagon, the leaderboard continues to shift. Other players like Bitcoin Standard Treasury Company and Trump Media have also boosted their reserves, landing themselves in the top ten as well.
As the race to stack Bitcoin continues, all eyes are on who will lead the next wave of corporate adoption.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
