Japanese investment firm Metaplanet has emerged as a major player in the global Bitcoin space, acquiring an additional 1,088 BTC on June 2 for $117.9 million, bringing its total holdings to over 8,888 BTC.
Metaplanet now ranks as the eighth-largest corporate Bitcoin holder, surpassing both Galaxy Digital Holdings (8,100 BTC) and Block Inc. (8,485 BTC), according to Bitbo data.
Strategic Accumulation Amid Market Optimism
The purchase was made at an average price of $108,400 per Bitcoin, reflecting growing institutional confidence in Bitcoin’s long-term value, especially during the current bull cycle.
Large corporate buys above $100K per BTC signal strong conviction from institutional investors.
Metaplanet’s aggressive buying strategy aligns with its broader goal of promoting Bitcoin adoption across Asia, especially amid economic uncertainty in Japan, where rising government bond yields have raised concerns about fiscal sustainability.
Market Context: Bitcoin Price Action
The acquisition follows Bitcoin’s recent rally to a record high of over $112,000 on May 22, before retracing to around $105,464 at the time of writing.
Analysts view the current consolidation as a “healthy” correction, supporting a stronger foundation for a potential breakout in Q3.
According to Bitfinex analysts:
- Bitcoin is holding firm above its short-term holder cost basis near $95,000
- The next few weeks will likely determine if this is a local peak or a launchpad for the next bull leg
Institutional Confidence vs. Bubble Concerns
Despite the bullish momentum, some market observers have raised concerns about a potential bubble forming around Bitcoin proxy stocks. Metaplanet’s Bitcoin premium has surged to $596,000, meaning:
Investors are paying over 5x the actual value of BTC through indirect exposure via Metaplanet stock.
This dramatic premium highlights surging investor demand, but also the risks of speculative overvaluation when accessing Bitcoin through publicly traded firms.
Conclusion
Metaplanet’s bold move into Bitcoin strengthens its position as a key institutional player and underscores Asia’s growing role in crypto adoption. As macroeconomic pressures intensify, more firms may follow suit, positioning Bitcoin as a potential hedge against traditional financial instability.
With 8,888 BTC now under its control, Metaplanet is firmly among the top global corporate holders of Bitcoin.