Metaplanet Surpasses Tesla with $132.7 Million Bitcoin Purchase

Japan-based Metaplanet has made a significant stride in the corporate Bitcoin (BTC) holdings landscape, surpassing Tesla with a record-breaking purchase of 1,234 BTC valued at approximately $132.7 million. This acquisition has increased Metaplanet's total holdings to 12,345 BTC, positioning it as the seventh-largest corporate Bitcoin holder globally. The average purchase price for the 1,234 BTC was about 15.6 million Japanese yen, or roughly $107,557 per coin, aligning with recent market prices and reinforcing Metaplanet’s aggressive buying strategy.

Following this move, the firm’s cumulative Bitcoin (BTC) investment now totals around $1.2 billion, with its holdings valued at over $1.33 billion, leaving the company with an unrealised profit of $110 million. Notably, the latest purchase marked Metaplanet’s fourth BTC acquisition in June alone and was its largest since it adopted a Bitcoin treasury strategy in April 2024. CEO Simon Gerovich confirmed the move via social media, calling it a strategic leap that edges the firm closer to top-tier Bitcoin holders such as CleanSpark and Galaxy Digital. With just a modest addition of 1,000 BTC, Metaplanet could leap into the fifth position globally, surpassing both CleanSpark and Galaxy Digital.

Metaplanet’s recent acquisition follows the announcement of a ¥74.9 billion equity offering, led by institutional partner EVO FUND, a deal that represents the largest single-day capital raise for Bitcoin purchases by a public company. This financing round also brings Metaplanet’s progress on its “555 Million Plan” to 10%, a broader effort aiming to raise $5.4 billion to acquire up to 201,112 BTC by 2027. The plan includes key milestones: 30,000 BTC by the end of 2025 and 100,000 BTC by 2026, eventually targeting 1% of Bitcoin’s total supply. To support this, the company recently approved a $5 billion capital injection into its US subsidiary, Metaplanet Treasury Corp., signalling its intent to scale internationally.

Despite some market hesitation, Metaplanet’s stock has shown remarkable performance, rallying 322% year-to-date and over 350% since its pivot to a Bitcoin-focused strategy. However, following the announcement of its latest BTC purchase, shares dipped 5% on the Tokyo Stock Exchange, closing at 1,509 yen and extending a week-long slide. Analysts believe the temporary pullback is a response to short-term dilution fears, even as the firm’s long-term outlook remains bullish due to its rising Bitcoin yield. Quarter-to-date, Metaplanet has recorded a BTC yield of 112.2%, and year-to-date returns have soared to 315%, signalling robust performance from its crypto treasury.

Across the globe, firms like Nakamoto Holdings, Parataxis, and K33 are increasing BTC exposure, and Metaplanet is emerging as the leader among this new wave of Bitcoin treasuries. By overtaking Tesla and approaching top players like Riot Platforms, the firm is solidifying its reputation as “Asia’s MicroStrategy,” with a clearly defined roadmap to becoming one of the world’s most influential Bitcoin holders. This strategic move not only positions Metaplanet as a dominant force in institutional crypto investment but also underscores its commitment to a Bitcoin-first strategy, pushing it into the global spotlight.