Metaplanet Increases Bitcoin Portfolio, Surpassing Tesla with $133M Investment

Metaplanet, a Tokyo-based investment company, recently purchased an additional 1,234 Bitcoins for $133 million, taking its total holdings to 12,345 BTC. With this acquisition, Metaplanet has overtaken Tesla to become the fifth-largest corporate Bitcoin holder. The company's CEO, Simon Gerovich, announced this milestone on Twitter, marking the achievement as a significant step for the firm. The acquisition follows a funding round in which Metaplanet raised ¥74.9 billion ($515 million), primarily aimed at expanding its Bitcoin portfolio.

The firm aims to own 1% of Bitcoin's total capped supply of 21 million coins, making it one of the most dedicated corporate Bitcoin advocates. Metaplanet has also proposed a "555 Million Plan" to issue 555 million new shares to raise $5.4 billion for future Bitcoin investments.