Metaplanet Surpasses Tesla in Bitcoin Holdings with $132.7 Million Purchase

Japan-based Metaplanet has recently surpassed Tesla in terms of Bitcoin holdings, marking a significant shift in the corporate landscape of Bitcoin investments. On June 26, Metaplanet confirmed its largest single purchase to date, acquiring 1,234 BTC for approximately $132.7 million, with an average cost of $107,557 per coin. This acquisition brings Metaplanet’s total Bitcoin holdings to 12,345 BTC, valued at about $1.33 billion based on current market prices. The company’s cumulative investment in Bitcoin stands at $1.2 billion, with an average cost of $98,407 per BTC. Given that Bitcoin is currently trading above $107,700, Metaplanet is sitting on an unrealized profit of over $110 million.

This latest purchase is the fourth acquisition this month and the largest since Metaplanet adopted a Bitcoin treasury strategy in April 2024. Metaplanet CEO Simon Gerovich highlighted that these aggressive purchases have propelled the company ahead of Tesla, which holds 11,509 BTC. Metaplanet is now ranked as the seventh-largest corporate Bitcoin holder globally. Analysts have suggested that an additional purchase of 1,000 BTC could move the firm into the fifth spot, overtaking Bitcoin mining firms CleanSpark and Galaxy Digital.

Metaplanet’s ambitious expansion plans include surpassing its initial 2025 goal of 10,000 BTC, which it achieved a few weeks ago. The company has since raised its targets, aiming for 30,000 BTC by the end of 2025 and an ambitious 100,000 BTC by 2026. To support this growth, Metaplanet recently secured $515 million through an equity offering backed by EVO FUND. This capital, along with previous rounds, is earmarked for further Bitcoin purchases. Earlier this month, the company unveiled an even larger ambition of raising $5.4 billion to buy as much as 210,000 BTC by 2027. A portion of this fund will support its US operations, as the firm aims to cement its position among the top institutional Bitcoin holders worldwide.

Despite the bullish trajectory in crypto holdings, Metaplanet’s stock performance has seen a decline. The company’s shares slid over 5% on June 26, extending a week-long decline of more than 15%. However, the firm’s broader trend remains strong. Over the past month, Metaplanet shares have climbed nearly 60%, and year-to-date performance shows an impressive gain of 322%, suggesting rising investor confidence in the firm’s Bitcoin-first approach.