Metaplanet Buys 2,204 Bitcoin for $237M, Expands Holdings to 15,555 BTC

Metaplanet, Japan’s leading corporate Bitcoin holder, has acquired an additional 2,204 Bitcoin (BTC) for approximately $237 million, pushing its total holdings to 15,555 BTC, according to a regulatory filing published on Monday.

Metaplanet's Bitcoin Accumulation Continues

The firm disclosed that the purchase was made at an average price of ¥15,640,253 per BTC—around $107,700. This brings its average cost basis to approximately ¥14,517,416 per coin, or $99,985 in USD terms.

Based on the latest data from BitcoinTreasuries.net, Metaplanet has now solidified its position as the fifth-largest corporate Bitcoin holder globally, surpassing tech giant Tesla, which currently holds 11,509 BTC.

The firm previously leapfrogged Tesla in late June after acquiring 1,234 BTC, pushing its then-total holdings to 12,345 BTC. A separate 1,005 BTC acquisition, disclosed on June 30 and valued at $108 million, also pushed Metaplanet past CleanSpark, which holds 12,502 BTC.

Corporate Bitcoin Treasuries on the Rise

The Metaplanet announcement comes amid a wave of corporate Bitcoin accumulation. On June 30, the world’s largest corporate Bitcoin holder, MicroStrategy, revealed it had purchased 4,980 BTC for $531.1 million, bringing its total to 597,325 BTC—acquired at an average price of $70,982, with a cumulative investment of $42.4 billion.

Other major players are entering the space as well:

ProCap, led by crypto entrepreneur Anthony Pompliano, bought 3,724 BTC for $386 million in its first public Bitcoin purchase.

Semler Scientific, a healthcare tech firm, announced intentions to increase its BTC holdings from 3,808 to 105,000 BTC.

Analysts Question Long-Term Viability

Despite the growing number of corporate BTC treasuries, not everyone is convinced of the strategy’s longevity.

“For many new entrants, it could already be over,” warned James Check, lead analyst at Glassnode.

Check pointed out that early movers gain the most benefit, while newer firms may struggle to stand out. “Nobody wants the 50th Treasury company,” he said, referring to concerns over market saturation.

Similarly, a late June report from venture capital firm Breed echoed these sentiments, suggesting that only a small number of Bitcoin treasury companies would survive long-term due to rising acquisition costs and reduced novelty.

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