Metaplanet buys 2,204 Bitcoin worth $237 million
Japan-based Metaplanet has cemented its position as a major player in the corporate Bitcoin space after purchasing 2,204 BTC for approximately $237 million. This latest acquisition brings the company’s total Bitcoin holdings to 15,555 BTC, making it the fifth-largest corporate holder of the digital asset globally.
The company disclosed the purchase in a filing on Monday, stating that the coins were acquired at an average price of 15,640,253 Japanese yen per Bitcoin, or around 107,700 US dollars. Across all its acquisitions, Metaplanet has now spent an average of nearly 99,985 dollars per coin.
Metaplanet overtakes Tesla and CleanSpark
This recent accumulation follows a series of aggressive Bitcoin purchases by Metaplanet in recent weeks. In late June, the company overtook Tesla’s Bitcoin holdings by acquiring 1,234 BTC, bringing its total to 12,345 BTC. Tesla currently holds 11,509 BTC, a position it has maintained without significant additions in recent months.
Shortly afterwards, Metaplanet surpassed the Bitcoin mining firm CleanSpark. A separate transaction disclosed on 30 June revealed the purchase of an additional 1,005 BTC for 108 million dollars, lifting Metaplanet’s holdings above CleanSpark’s 12,502 BTC.
Corporate treasuries fuel Bitcoin demand
Metaplanet is not alone in its Bitcoin accumulation. The largest corporate holder remains Strategy, which added 4,980 BTC for 531.1 million dollars on 30 June. With this acquisition, Strategy now holds a staggering 597,325 BTC, purchased at an average of 70,982 dollars per coin, with the total value of the holdings amounting to roughly 42.4 billion dollars.
Metaplanet’s 2025 Bitcoin holdings chart, last buy missing. Source: BitcoinTreasuries.NET
The corporate interest does not stop there. ProCap, founded by crypto entrepreneur Anthony Pompliano, made its first major Bitcoin purchase in late June, buying 3,724 BTC for 386 million dollars. Similarly, healthcare technology company Semler Scientific announced plans to increase its Bitcoin holdings dramatically, aiming to go from 3,808 BTC to a target of 105,000 BTC.
Analysts warn of potential risks
While corporate enthusiasm around Bitcoin continues to rise, not all analysts are convinced of its long-term sustainability. James Check, lead analyst at blockchain data firm Glassnode, expressed scepticism about the future prospects of Bitcoin-focused treasury strategies. He suggested that the major upside may already be behind for new corporate entrants.
“For many new entrants, it could already be over,” Check commented, pointing out that investors typically value early movers in a space. He argued that companies arriving late to the Bitcoin accumulation trend may struggle to capture the same level of investor interest or returns.
A recent report by venture capital firm Breed echoed these concerns. It warned that only a limited number of Bitcoin treasury companies are likely to succeed in the long run, with many others potentially entering what it called a “death spiral” due to unsustainable strategies or overexposure.
Growing interest amid rising prices
The surge in corporate purchases coincides with a period of renewed optimism in the crypto market. Bitcoin has seen its price hover above the 100,000 dollar mark in recent weeks, increasing confidence among institutional investors. At the time of Metaplanet’s most recent purchase, Bitcoin was trading around 108,342 dollars.
As more companies look to add digital assets to their balance sheets, the competition for recognition and return on investment is intensifying. For early movers like Metaplanet, the strategy has so far paid off in global visibility and growing investor interest. But for those arriving later, the path to similar success may be more uncertain.
