Metaplanet acquired 1,112 BTC, bringing its total Bitcoin holdings to 10,000 and surpassing Coinbase Global.
The firm issued $210 million in zero-interest bonds, with proceeds allocated to further Bitcoin acquisitions.
Metaplanet aims to hold over 210,000 BTC by 2027 and recently proposed a $5.4 billion equity offering to support this goal.
Japanese investment firm Metaplanet has increased its Bitcoin holdings to 10,000 BTC following its latest purchase. The company acquired 1,112 BTC for approximately $117.2 million, according to its CEO. This acquisition moved Metaplanet ahead of Coinbase Global, which currently holds 9,267 BTC, based on data from Bitcointreasuries.net. Metaplanet’s Bitcoin strategy, which started in April 2024, continues to advance through significant financial moves and planned capital raises.
Metaplanet's Latest Acquisition Pushes It Ahead
On Monday, Metaplanet CEO Simon Gerovich posted on X that the company had added 1,112 BTC. The purchase was made at an average price of $105,435 per coin, pushing the total holdings to 10,000 BTC. Coinbase Global, which holds 9,267 BTC, now ranks below Metaplanet in terms of Bitcoin reserves.
https://twitter.com/gerovich/status/1934445942536897019
The announcement triggered a sharp increase in Metaplanet’s share price. By 11:30 a.m. in Japan, the stock had risen 17.23% to 1,769 yen. Since January, the company’s shares have climbed over 408%, according to Yahoo Finance data.
Company Approves $210 Million Bond Issuance
Alongside the latest purchase, Metaplanet’s board approved the issuance of ordinary bonds worth $210 million. This represents the company’s 18th series of bonds. The bonds were issued to EVO Fund and are set to mature on December 12, 2025. The company confirmed that the capital raised from this issuance will be used for additional Bitcoin acquisitions.
Earlier this month, Metaplanet revised its strategic target to hold over 210,000 BTC by the end of 2027. This target aims to represent 1% of Bitcoin’s total supply. To help meet this goal, Metaplanet announced a $5.4 billion equity offering on June 6. The company plans to issue 555 million shares over two years to fund additional BTC purchases.
Recent Activity Continues Rapid Accumulation
Before the most recent acquisition, Metaplanet bought 1,088 BTC on June 2, bringing its total to 8,888 BTC. This rapid accumulation shows a consistent effort to grow holdings within a short timeframe. The company began this strategy in April 2024 and has since expanded aggressively.
Despite Metaplanet’s new ranking, Strategy remains the top corporate Bitcoin holder worldwide. Strategy currently holds 582,000 BTC following a 1,045 BTC purchase last week. While Metaplanet has surpassed Coinbase, it still trails significantly behind Strategy in total holdings.
