Japanese firm Metaplanet has substantially increased its Bitcoin treasury to over 17,595 BTC, valued at approximately $2 billion. This significant accumulation positions Metaplanet as the seventh-largest publicly traded company globally in terms of Bitcoin holdings and underscores its prominent role within Asia’s burgeoning corporate crypto market, reflecting a surge in regional institutional interest.
To facilitate this strategy of expanding its Bitcoin holdings per share, Metaplanet recently secured funding through the issuance of perpetual preferred shares, raising ¥555 billion (equivalent to roughly $3.7 billion). This capital is earmarked specifically for further Bitcoin acquisitions.
Despite this aggressive long-term accumulation strategy, Metaplanet’s stock price experienced a short-term decline, dropping by 6.68% to 992 JPY. This movement highlights market reactions potentially divergent from the company’s core Bitcoin strategy.
The trend of major corporate Bitcoin adoption continues to grow. Recent data indicates the number of public companies holding at least 1,000 BTC has risen sharply, climbing from 24 at the end of the first quarter to 35 by early in the third quarter of this year.
Metaplanet’s actions serve as a prominent indicator of increasing institutional confidence in Bitcoin, particularly within Asia, and reflect the ongoing evolution of corporate participation in the cryptocurrency landscape.