Metaplanet Bitcoin (BTC) holdings reach 10,000, surpassing Coinbase

After announcing its latest Bitcoin purchase plan and a $210 million bond issuance to buy more Bitcoin, Metaplanet's stock price soared by over 20%.  

Metaplanet's Bitcoin (BTC) Holdings Reach 10,000, Surpassing Coinbase  

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Japanese investment firm Metaplanet's latest purchase of 1,112 Bitcoins has officially brought its total holdings to 10,000 BTC, surpassing Coinbase to become the seventh-largest listed company in Bitcoin reserves.  

Metaplanet announced on Monday that it had spent 16.88 billion yen ($117 million) to acquire these Bitcoins. According to Bitbo data, the company currently holds 10,000 Bitcoins, exceeding Coinbase's 9,267 BTC.  

*Source: Metaplanet*  

The average price of Metaplanet's 10,000 Bitcoins is now 13.9 million yen per coin, approximately $96,400.  

Notably, just two weeks ago, Metaplanet had just entered the list of the world's top eight corporate Bitcoin holders.  

Metaplanet Issues $210 Million Zero-Coupon Bonds to Buy Bitcoin  

On the same day, Metaplanet announced that its board of directors had officially approved raising $210 million through zero-interest bonds, which will be exclusively used to increase Bitcoin holdings.  

The company has significantly adjusted its Bitcoin strategy in recent months and now plans to hold a total of 210,000 Bitcoins by the end of 2027. Currently, Metaplanet has completed the purchase target of 10,000 Bitcoins and needs to add 200,000 more within the next 18 months.  

Metaplanet's Stock Price Surged by Over 20%  

This series of announcements drove a sharp increase in Metaplanet's stock price on the day.  

Shares of Metaplanet (3350T) rose more than 22% on the Tokyo Stock Exchange on Monday, hitting a high of 1,860 yen. Year to date, Metaplanet's stock price has soared by over 417%, an astonishing rally.  

*Source: Google Finance*  

Institutional Demand Remains Strong  

Although geopolitical tensions recently caused Bitcoin's price to drop from $110,000 to $103,000 in just three days, demand from institutional investors has remained stable.  

Michael Saylor, co-founder of Strategy, pointed out that despite the current geopolitical tensions, his company will still increase its Bitcoin holdings on Monday.  

Bitcoin exchange-traded funds (ETFs) saw five consecutive days of net inflows last week, with institutional investors investing over $1.3 billion during this period.  

Hunter Horsley, CEO of Bitwise Asset Management, said on Saturday that Bitcoin has the potential to surpass the $30 trillion Treasury market.  

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