Metaplanet has overtaken Tesla in corporate Bitcoin holdings, buying 1,234 BTC and bringing its total to 12,345 BTC as it eyes more expansion.
Metaplanet, Japan’s largest corporate Bitcoin treasury, announced Thursday that it had purchased an additional 1,234 Bitcoin, bringing its total holdings to 12,345 BTC.
The latest acquisition, disclosed in a filing, puts Metaplanet ahead of Tesla’s current Bitcoin stash of 11,509 Bitcoin (BTC).
Metaplanet currently holds the seventh-largest corporate Bitcoin treasury, according to BitcoinTreasuries.NET. The company is also within striking distance of Bitcoin mining firm CleanSpark, with its 12,502 BTC reserve.
The purchase was made at an average price of 15.6 million Japanese yen (about $108,000) per coin. At the time of writing, Bitcoin traded at $108,150, having risen by 1.4% over the last 24 hours, according to CoinMarketCap.
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Metaplanet aims for large-scale expansion
Metaplanet has scaled up its Bitcoin buys at a rapid pace. The current announcement follows the company’s Tuesday issuance of a notice informing investors that its board of directors has approved an additional capital contribution of up to $5 billion.
The company did not disclose how much had been raised so far but said the contribution will “significantly accelerate” the implementation of its so-called “555 Million Plan.”
As part of its 555 million plan, Metaplanet intends to buy 201,112 BTC by 2027 at a cost of over $21 billion at current prices. The company previously announced plans to hold 100,000 Bitcoin by 2026.
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The number of Bitcoin treasuries keeps growing
Metaplanet joins a growing list of companies expanding their Bitcoin holdings. Nakamoto Holdings, a Bitcoin holding company, recently secured $51.5 million in capital to acquire more BTC.
Last week, Parataxis Holdings announced a new Bitcoin treasury platform in the South Korean market. Also this month, Norwegian crypto firm K33 announced plans to raise a minimum of 85 million Swedish krona ($8.9 million) through a new share issuance, with plans to acquire up to 1,000 BTC.
In early June, Norwegian crypto exchange Block Exchange announced its Bitcoin treasury. The company’s stock reacted by jumping by over 138% the same day.
French technology firm The Blockchain Group also expanded its holdings with an acquisition of 182 BTC for about $19.6 million. The company now holds a total of 1,728 BTC according to BitcoinTreasuries.NET.
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