Metaplanet surpasses Tesla in bitcoin holdings

Metaplanet has purchased an additional 1,234 BTC for around $132.7 million, bought at an average price of $107,557 per bitcoin.

The Tokyo-listed firm now holds 12,345 BTC — worth around $1.3 billion — overtaking Tesla's 11,509 BTC stash and becoming the seventh largest holder among public companies globally.

Michael Saylor's Strategy continues to top the list with total holdings of 592,345 BTC ($63 billion) following its acquisition of another 245 BTC last week.

Metaplanet's latest acquisition comes just one day after it raised $515 million through a stock issuance to help fund its bitcoin treasury strategy.

Metaplanet aims to secure 1% of bitcoin's total 21 million supply as part of its bold "555 million plan" by the end of 2027.

The company's stock has fallen more than 16% over the past five days but remains up 303% year-to-date, according to TradingView.