Metaplanet Becomes Ninth-Largest Public Bitcoin Holder

Japanese investment firm Metaplanet has rapidly accumulated 10,000 Bitcoin (BTC), making it the ninth-largest publicly traded Bitcoin holder with holdings valued at approximately $947 million. The milestone was achieved after purchasing 1,112 additional BTC for about $117 million, funded by a $210 million zero-interest bond issuance to EVO Fund. Metaplanet's aggressive Bitcoin acquisition strategy has driven a 400% surge in its stock price over two months, pushing its market capitalization above ¥1 trillion ($6.9 billion) and surpassing major Japanese firms like Kioxia and Tokyo Metro. The company aims to further expand its reserves to 210,000 BTC—about 1% of the total Bitcoin supply—by 2027, supported by a proposed $5.4 billion equity offering. This reflects a broader shift toward digital assets in corporate treasuries amid economic uncertainty. Analysts, however, debate the sustainability of such strategies given dilution and volatility risks.