Japanese investment firm Metaplanet has deepened its Bitcoin strategy with a substantial new purchase. On Monday, the company disclosed it had acquired an additional 2,204 BTC for approximately $237 million, paying an average of ¥15.64 million per Bitcoin — around $107,700 per coin.
This move increases Metaplanet’s total Bitcoin reserves to 15,555 BTC, with its average cost basis now sitting at roughly $99,985 per Bitcoin.
According to data from BitcoinTreasuries.NET, Metaplanet has become the fifth-largest corporate holder of Bitcoin. It recently surpassed Tesla, which holds 11,509 BTC, after purchasing 1,234 BTC in late June that brought its tally to 12,345 BTC. Another 1,005 BTC acquisition worth $108 million, revealed on June 30, helped it pass mining firm CleanSpark’s 12,502 BTC as well.
Institutional Bitcoin Accumulation Intensifies
Metaplanet’s announcement follows similar bullish moves by other major corporations. Strategy, the largest corporate holder of Bitcoin globally, bought 4,980 BTC for $531.1 million at the end of June, pushing its holdings to 597,325 BTC at an average price of $70,982.
Meanwhile, ProCap — founded by crypto investor Anthony Pompliano — entered the market with its first Bitcoin buy: 3,724 BTC for $386 million. In addition, Semler Scientific, a healthcare tech company, revealed plans to scale its Bitcoin holdings from 3,808 to a staggering 105,000 BTC.
Despite the wave of institutional buys, some experts are signaling caution. James Check, lead analyst at Glassnode, suggested that the window of easy gains may be closing for newcomers. “It might already be too late for many of the late entrants,” he warned, emphasizing that sustainability and strategy are critical. “Investors reward pioneers — nobody’s excited about the 50th company trying to do the same thing.”
A report by venture capital firm Breed also cautioned that only a handful of Bitcoin treasury firms are likely to avoid what it called a looming “death spiral.”
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