Metaplanet Surpasses Tesla as Top Corporate Bitcoin Holder
Japan-based Metaplanet has made headlines in the cryptocurrency world by surpassing Tesla as the top corporate holder of Bitcoin. This achievement comes after Metaplanet made its largest single purchase of Bitcoin to date, acquiring 1,234 BTC for approximately $132.7 million. With this latest purchase, Metaplanet now holds a total of 12,345 BTC, valued at around $1.33 billion based on current market prices.
The company’s aggressive investment strategy in Bitcoin has paid off, with an average cost of $98,407 per BTC and the current market price trading above $107,700. Metaplanet is now sitting on an unrealized profit of over $110 million. This latest acquisition marks the fourth purchase this month and the largest since Metaplanet adopted a Bitcoin treasury strategy in April 2024.
Metaplanet’s CEO, Simon Gerovich, expressed his excitement about the company’s growth in the cryptocurrency space, noting that these strategic purchases have propelled Metaplanet ahead of Tesla, which holds 11,509 BTC. Metaplanet is now ranked as the seventh-largest corporate Bitcoin holder globally. Market analysts speculate that with an additional purchase of 1,000 BTC, the company could move into the fifth spot, surpassing Bitcoin mining firms CleanSpark and Galaxy Digital.
Following the company’s recent milestone of surpassing its initial goal of 10,000 BTC, Metaplanet has set ambitious targets for the future. The company aims to acquire 30,000 BTC by the end of 2025 and a monumental 100,000 BTC by 2026. To support this expansion, Metaplanet recently secured $515 million through an equity offering backed by EVO FUND, earmarked for further Bitcoin purchases.
In a bold move, Metaplanet announced plans to raise $5.4 billion to acquire up to 210,000 BTC by 2027. A portion of this fund will support the company’s operations in the United States as Metaplanet seeks to solidify its position among the top institutional Bitcoin holders worldwide.
Despite the impressive growth in Bitcoin holdings, Metaplanet’s stock performance has seen a slight decline in recent days. The company’s shares have dropped over 5% to 1,509 yen (approximately $10.40), extending a week-long decline of more than 15%. However, the broader trend for Metaplanet remains strong, with shares climbing nearly 60% over the past month and boasting a remarkable year-to-date performance gain of 322%.
Overall, Metaplanet’s success in the cryptocurrency market reflects rising investor confidence in the company’s Bitcoin-first approach and its strategic vision for the future.