Metaplanet Overtakes Tesla as Japan’s Top Corporate Bitcoin Holder

Tokyo-based technology firm Metaplanet announced Thursday it has increased its Bitcoin treasury by purchasing an additional 1,234 BTC, consolidating its position as Japan’s largest corporate holder of the cryptocurrency.

The company now holds a total of 12,345 BTC following its latest acquisition. This announcement surpassed Tesla’s previous holding of 11,509 BTC, according to company filings cited by reporting sources. The figure slightly exceeds CleanSpark’s reported holdings of 12,502 BTC, making Metaplanet either the second or third largest corporate BTC treasury.

The recent purchases were accumulated through a transaction averaging 15.6 million Japanese yen (approximately $108,000) per Bitcoin coin. Market data shows Bitcoin trading at $108,150 at the time of reporting, marking a 1.4% increase over the preceding 24 hours as per CoinMarketCap.

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Accelerating Ambitious Plans

Commenting on the strategic move, Metaplanet noted the acquisition aligns with its “555 Million Plan,” a roadmap for accelerated treasury expansion. A subsequent Tuesday announcement detailed board approval for a potential $5 billion capital contribution to facilitate this expansion.

The recently revealed $5 billion funding mechanism is stated to “significantly accelerate” the implementation of the “555 Million Plan,” which targets the acquisition of 201,112 BTC, earmarking over $21 billion (based on current pre-announcement prices), by the fiscal year ending in 2027. This ambitious target extends its previously stated goal of holding 100,000 BTC by 2026.

Corporate TREASURY Trend Gains Momentum

Metaplanet’s significant purchase reflects a broader market trend. Other notable holders are also increasing their Bitcoin allocations. Nakamoto Holdings recently secured financing to acquire additional BTC, while Parataxis Holdings launched a South Korean Bitcoin treasury initiative.

Separately, Norwegian crypto firm K33 announced plans to raise $8.9 million for a Bitcoin purchase target of up to 1,000 BTC. K33’s CEO previously commented on the strategic value shift observed within the automotive industry, highlighting the potential transformation in corporate treasury allocation from euros or dollars to Bitcoin.

In unrelated corporate news, The Blockchain Group (a French tech firm) recently added 182 BTC to its portfolio.