Chiara Bianchi
Japanese financial services company Metaplanet has officially surpassed Coinbase in total Bitcoin holdings, following its most recent acquisition of 1,112 BTC valued at $117.2 million. This bold move has pushed Metaplanetโs total BTC stash to 10,000 BTC, overtaking Coinbase Globalโs 9,267 BTC, according to data from Bitcointreasuries.net.
The firmโs CEO, Simon Gerovich, announced the buy via X on Monday, noting that the coins were acquired at an average price of $105,435 per BTC.
Strategic Funding Fuels Bitcoin Accumulation
To finance its ongoing crypto strategy, Metaplanet disclosed that its board approved the issuance of $210 million in corporate bonds, which will mature on December 12, 2025. The entire proceeds, the company confirmed, are earmarked for additional Bitcoin purchases.
The market responded positively to the news, with Metaplanet shares jumping 17.23%, reaching 1,769 yen as of 11:30 a.m. (Japan time), based on Yahoo Finance data. Since January, the companyโs stock has seen a staggering 408% increase.
Ambitious Goal: 1% of Bitcoinโs Total Supply by 2027
Having initiated its Bitcoin strategy in April 2024, Metaplanet has since laid out plans to aggressively expand its crypto treasury. The company recently updated its objective: to hold more than 210,000 BTC by the end of 2027 โ equivalent to 1% of Bitcoinโs maximum supply.
To reach this target, Metaplanet announced a massive $5.4 billion equity raise on June 6, with plans to issue 555 million new shares over the next two years. Just days before, on June 2, the company had added 1,088 BTC to its reserves, bringing its total to 8,888 BTC before this weekโs latest acquisition.
Strategy Still Leads Globally, But Metaplanet Closes the Gap
While Metaplanet has moved ahead of Coinbase, Michael Saylorโs Strategy remains the dominant institutional BTC holder, with a total of 582,000 BTC following its recent purchase of 1,045 BTC last week.
Metaplanetโs rapid ascent showcases a growing trend among global firms that are increasingly treating Bitcoin as a core treasury asset, signaling institutional confidence in the assetโs long-term value.
