Bitcoin season ignites corporate FOMO: Metaplanet’s BTC holdings cross 17K
Key Takeaways
Metaplanet crossed 17,000 BTC with a $92.93 million purchase, surpassing Coinbase and solidifying its role as Asia’s MicroStrategy. Meanwhile, Strategy hinted at another major buy.
In a bold move, cementing its status as Asia’s MicroStrategy-in-the-making, Tokyo-listed Metaplanet has added another 780 Bitcoin [BTC] to its treasury, pushing its total holdings to over 17,000 BTC.
Source: Metaplanet/X
Metaplanet’s new Bitcoin acquisition
The company disclosed the acquisition on the 28th of July, revealing it spent nearly ¥13.67 billion (approx. $92.93 million) at an average price of ¥17.52 million ($119,136) per coin.
With this latest purchase, Metaplanet continues its aggressive accumulation streak that began in December 2024, using capital market funds and operational revenue to double down on its Bitcoin conviction.
This comes at a time when another Bitcoin-heavyweight firm, Strategy (formerly MicroStrategy), is also ramping up anticipation for its next big move.
Saylor also teased Strategy’s BTC accumulation
Remarking on this, Executive Chairman Michael Saylor recently posted the firm’s updated portfolio tracker on X, revealing that the company currently holds a staggering 607,770 BTC, valued at approximately $71.8 billion at current market prices.
Source: Michael Saylor/X
As expected, this fueled speculation that Strategy may soon announce another substantial Bitcoin buy, especially given its active efforts to raise fresh capital.
The timing of these developments is notable as both Strategy and Metaplanet made their intentions while Bitcoin hovered around $118,850.87, up 0.54% over the last 24 hours, according to CoinMarketCap.
Additionally, with the CMC Altcoin Index currently at 42, the data points to an ongoing Bitcoin season, suggesting that firms may be strategically capitalizing on the moment.
However, investor reactions have been mixed. While Strategy’s MSTR stock dipped 2.18% to $405.89, shares of Metaplanet surged 5% to 1,240 JPY, as per Google Finance.
The contrast in market response may reflect Metaplanet’s growing appeal as a rising Asian proxy for institutional Bitcoin exposure.
In fact, with its latest purchase of 1,112 BTC on the 16th of June, Metaplanet’s aggressive Bitcoin accumulation strategy is paying off as it hit its ambitious 2025 target of holding 10,000 BTC, a goal achieved in just over a year.
This milestone also placed Metaplanet ahead of Coinbase Global in the corporate Bitcoin rankings, according to data from Bitcoin Treasuries.