Japanese hospitality firm Metaplanet has recently secured its place among the top 30 corporate Bitcoin holders globally following its latest acquisition of the cryptocurrency.
On June 11, Metaplanet announced its purchase of 23.25 Bitcoin for ¥250 million ($1.59 million), averaging ¥10,706,180 ($69,627) per Bitcoin.
This transaction brought the company’s total Bitcoin holdings to 141.07 BTC, acquired for ¥1.45 billion ($9.2 million) at an average price of ¥10,278,391 ($65,365) per Bitcoin.
This latest purchase marks Metaplanet’s third Bitcoin acquisition in just three months.
The company initially bought 97.85 bitcoins in April, followed by 19.87 in May.
Each acquisition demonstrates Metaplanet's ongoing commitment to integrating Bitcoin into its investment strategy.
Leading the way in Japan
Metaplanet, a publicly traded Japanese company specializing in hospitality and technology services, is the first on the Tokyo Stock Exchange to invest in Bitcoin.
According to Google Finance data, this bold move has placed them among the top corporate Bitcoin holders and resulted in a 10% surge in its stock price, reaching ¥89.
Metaplanet’s latest Bitcoin acquisition is part of a broader trend where companies incorporate Bitcoin into their treasury assets.
Recently, Semler Scientific and DeFi Technologies acquired nearly 1,000 BTC, viewing the digital asset as a hedge against inflation and protection against monetary debasement.
Chris Kuiper, Director of Research at Fidelity Digital Assets, highlighted that smaller companies, like Metaplanet, are often early adopters of Bitcoin.
He noted that these firms have more at stake, and their early adoption mirrors trends seen in certain countries.
Giants in the Bitcoin Arena
While Metaplanet’s Bitcoin holdings are significant, they are overshadowed by those of MicroStrategy, the largest corporate holder of Bitcoin.
Led by Michael Saylor, MicroStrategy holds over 210,000 bitcoins, equating to more than 1% of the digital asset’s total circulating supply.
This substantial holding positions MicroStrategy at the top of the Chainalysis ranking.
Corporate entities that own Bitcoin | Chainalysis
MicroStrategy's 214,246 Bitcoin, valued at over $13.5 billion, makes it a dominant player in the corporate Bitcoin market.
Crypto-native companies also hold substantial amounts of Bitcoin, collectively possessing 65,519 BTC.
Notable Bitcoin miners such as Marathon Digital, Hut 8, Riot Platforms, and CleanSpark are among the top 10 holders.
Other major players
In addition to crypto-native firms, several non-crypto companies are significant Bitcoin holders.
These include Tesla, the electric car maker; Block, co-founded by Twitter's Jack Dorsey; and financial consulting firm The Bitcoin Group.
Collectively, they hold 237,535 bitcoins, worth nearly $15 billion, with MicroStrategy’s large stash contributing significantly to this total.
Conclusion
Metaplanet's entry into the top 30 corporate Bitcoin holders highlights its strategic investment approach and aligns with the growing trend of companies using Bitcoin as a hedge against economic uncertainties.
As more firms recognize the value of Bitcoin, Metaplanet's proactive strategy could serve as a model for other companies looking to diversify their investment portfolios.