Metaplanet Surpasses Tesla as Fifth-Largest Corporate Bitcoin Holder with 1,234 BTC Purchase

Metaplanet, a Tokyo-listed investment firm, has significantly increased its Bitcoin holdings by purchasing 1,234 BTC worth $133 million. This acquisition has brought the firm's total Bitcoin holdings to 12,345 BTC, with an average purchase price of $98,303 per coin. This strategic move has positioned Metaplanet as the fifth-largest corporate holder of Bitcoin, surpassing Tesla, which holds 11,509 BTC.

Metaplanet's CEO, Simon Gerovich, announced the milestone on Twitter, stating, “1, 2, 3, 4, 5… liftoff. We just climbed past Tesla on the BTC leaderboard. Bolder. Faster. Harder. Elon Musk – meet you on Mars.” This purchase comes on the heels of a significant funding round where Metaplanet raised ¥74.9 billion (approximately $515 million). The capital was primarily aimed at expanding the firm's Bitcoin treasury. The funding was facilitated through the exercise of 540,000 stock-acquisition rights by Metaplanet’s primary backer, EVO Fund, resulting in the issuance of 54 million new shares. This represents nearly a third of the company’s 20th warrant series, with a significant number of rights still unconverted.

Metaplanet's aggressive accumulation strategy aligns with its broader goal to acquire 1% of Bitcoin’s total capped supply of 21 million coins. This ambition would place it among the most committed corporate adopters of the world’s leading asset. Earlier this year, the company unveiled its “555 Million Plan,” proposing the issuance of 555 million new shares to raise roughly $5.4 billion for future Bitcoin purchases. This plan represents a 92% dilution of existing shares and is part of a larger roadmap to amass 30,000 BTC by the end of 2025. Looking further ahead, Metaplanet has outlined targets of reaching 100,000 BTC by 2026 and 210,000 BTC by 2027. This scale of accumulation is matched only by the business intelligence company Strategy, which is currently the top corporate holder with over 592,300 BTC.

Data from BitcoinTreasuries revealed that Marathon Digital Holdings stands second in line with 49,179 BTC, followed by Riot Platforms with 19,225 BTC, and CleanSpark with 12,502 BTC, respectively. Metaplanet's latest purchase underscores its commitment to Bitcoin as a strategic asset, positioning the firm as a leader in the corporate adoption of cryptocurrency. The firm's aggressive accumulation strategy and ambitious targets reflect its confidence in Bitcoin's long-term value and potential as a store of value and a hedge against inflation.