Japanese investment firm Metaplanet has solidified its position as a major player in the Bitcoin space by making its second-largest single Bitcoin purchase ever. Metaplanet buys 1004 Bitcoin on May 19, acquiring 1,004 Bitcoin (BTC) for approximately 15.2 billion yen ($104.6 million) , bringing its total holdings to 7,800 BTC, valued at over $800 million at current market prices.
A Strategic Move Amid Rising Prices
The acquisition comes as Bitcoin surged to within 3% of its all-time high, trading at around $103,266 at the time of writing. This purchase is second only to Metaplanet’s largest buy of 1,241 BTC for $129 million on May 12, which pushed its holdings above those of El Salvador, making it the largest corporate Bitcoin holder in Asia and the tenth largest globally, according to BiTBO data.
“Never short a man who buys orange ink by the barrel,” tweeted Michael Saylor , CEO of MicroStrategy, hinting at another corporate Bitcoin purchase.
Saylor’s MicroStrategy remains the undisputed leader in corporate Bitcoin holdings, with 568,840 BTC worth approximately $59 billion. However, Metaplanet’s aggressive accumulation strategy has drawn significant attention in the crypto community.
Aggressive Accumulation Strategy
Metaplanet has been ramping up its Bitcoin purchases in recent months. In May alone, the firm has acquired 2,800 BTC, including the latest purchase of 1,004 BTC. Its buying spree began earlier this year, with 794 BTC purchased across four transactions in April and 1,655 BTC acquired through six transactions in March.
The firm’s growing Bitcoin portfolio reflects its confidence in the asset’s long-term value. Metaplanet reported a first-quarter BTC Yield of 95.6% and a yield of 47.8% so far in the second quarter. This metric measures the ratio of percentage change in Bitcoin holdings per fully diluted share, highlighting the firm’s commitment to maximizing shareholder value.
If Metaplanet acquires another 301 BTC, it will surpass Galaxy Digital Holdings, currently ranked ninth with 8,100 BTC, further cementing its status among the top corporate Bitcoin holders.
Corporations Lead the Charge in Bitcoin Accumulation
Metaplanet’s aggressive accumulation aligns with broader trends in the Bitcoin market. According to research from River, corporations and businesses have emerged as the largest net buyers of Bitcoin so far this year, outpacing exchange-traded funds (ETFs), governments, and retail investors.
On May 12, River researchers revealed that corporate demand accounts for 77% of the growth in Bitcoin holdings in 2024. This underscores the growing institutional adoption of Bitcoin as a store of value and hedge against inflation.
Michael Saylor’s Influence
Michael Saylor, a vocal advocate for Bitcoin, continues to inspire other firms to adopt similar strategies. His recent hint at another purchase—accompanied by a screenshot of the Saylor Tracker, which monitors MicroStrategy’s Bitcoin portfolio—reinforces his belief in the asset’s potential.
While MicroStrategy remains the clear leader in corporate Bitcoin holdings, firms like Metaplanet are proving that smaller players can also make significant waves in the market.
