Metaplanet Boosts Bitcoin Holdings by 112.2% in Q2, Surpasses Tesla

Metaplanet, a publicly traded investment firm based in Tokyo, has significantly bolstered its Bitcoin holdings by acquiring an additional 1,234 Bitcoins. This purchase, valued at $132.7 million at a price of $107,557 per BTC, brings the company's total holdings to 12,345 BTC, purchased for approximately $1.20 billion at an average price of $97,036 per coin. This strategic move positions Metaplanet as the seventh-largest corporate holder of Bitcoin, surpassing notable companies such as Tesla and Hut 8, and making it the only Asian company within the top 10 Bitcoin holders.

Metaplanet's aggressive Bitcoin buying strategy has been evident since last year, with the company actively participating in the market to meet its reserve strategy. The company's Bitcoin yield between April 01 to June 01 is 112.2%, demonstrating a strong return on investment. Metaplanet's Chief Executive Officer, Simon Gerovich, highlighted the company's achievement in a X post, stating that Metaplanet has now surpassed Tesla in terms of Bitcoin holdings. He jokingly added, “See you on Mars,” tagging Elon Musk in the post.

Experts argue that Metaplanet’s pace at acquiring Bitcoin is appreciable, and odds are in favor of the company completing its aim to buy 30,000 BTC by 2025. The company is targeting 100,000 Bitcoins by 2026 as part of its ‘555 million plan’, scaling from its earlier ‘21 million plan’ in which it intended to buy 21,000 BTC. This ambitious target underscores Metaplanet's commitment to becoming a major player in the Bitcoin market.

Metaplanet's strategic pivot to Bitcoin investments began last April with an initial purchase worth roughly $6.5 million. The company has been funding its Bitcoin acquisitions through a combination of bond issuances and equity raises. This approach has allowed Metaplanet to rapidly expand its cryptocurrency holdings and position itself as a significant player in the market. The company's long-term vision includes reaching 210,000 Bitcoins by the end of 2027, which would constitute approximately 1% of the total supply of the leading cryptocurrency.

Metaplanet has announced plans to raise a total of $5 billion to fund its Bitcoin purchases, primarily through equity warrants issued by its Florida-based unit. This move provides Metaplanet with access to American capital markets and represents the largest equity warrant issuance by a Japanese company to date. The company's recent double-digit rally in share prices reflects investor confidence in its ambitious goals and strategic initiatives. Metaplanet's market capitalization has surged by 679% compared to that in 2024, indicating strong investor support for the company's Bitcoin acquisition strategy.