Tokyo’s publicly traded investment corporation, Metaplanet, has bolstered its Bitcoin treasury with an additional acquisition of 1,234 BTC, valued at $133 million. This latest procurement has catapulted its total Bitcoin reserves to 12,345 BTC, each secured at an average cost of $98,303.
In the corporate Bitcoin holdings race, Metaplanet has now successfully overtaken Tesla, which maintains a reserve of 11,509 BTC. This advancement makes Metaplanet the fifth-largest corporate Bitcoin holder, highlighting its aggressive accumulation strategy.
The company’s CEO, Simon Gerovich, announced the achievement on Twitter, saying, “1, 2, 3, 4, 5… liftoff. We’ve just surpassed Tesla in the BTC leaderboard. Bolder. Faster. Harder. Elon Musk – we’ll see you on Mars.”
This development follows close on the heels of Metaplanet’s successful funding round, during which it raised ¥74.9 billion (roughly $515 million). The capital injection, mainly aimed at enhancing its Bitcoin treasury, was executed through the issuance of 54 million new shares via the exercise of 540,000 stock-acquisition rights by its primary sponsor, EVO Fund.
The acquisition aligns with the company’s broader objective of owning 1% of Bitcoin’s total capped supply of 21 million coins, putting it amongst the most devoted corporate adopters of the premier asset.
Earlier this year, Metaplanet introduced its “555 Million Plan,” which proposed issuing 555 million new shares to generate approximately $5.4 billion for future Bitcoin purchases. This plan signifies a 92% dilution of existing shares and forms part of a larger strategy to accumulate 30,000 BTC by the end of 2025.
Metaplanet’s long-term goals include reaching a Bitcoin stash of 100,000 BTC by 2026 and 210,000 BTC by 2027. This level of accumulation is only rivaled by business intelligence firm Strategy, the leading corporate holder with over 592,300 BTC in its possession.
Data provided by BitcoinTreasuries reveals that Marathon Digital Holdings ranks second with 49,179 BTC, followed by Riot Platforms with 19,225 BTC, and CleanSpark with 12,502 BTC.
