Metaplanet Surpasses Coinbase with 10,000 BTC, Targets 210,000 Bitcoin Treasury by 2027
Metaplanet, a Japanese investment company, has rapidly increased its Bitcoin holdings to 10,000 BTC, overtaking Coinbase to become the seventh-largest public Bitcoin holder. The company recently acquired 1,112 BTC for $117.2 million, funded by a $210 million bond issuance. Since adopting this Bitcoin-focused treasury strategy—modeled after MicroStrategy—Metaplanet has completed at least 18 large acquisitions since April 2024. Its aggressive accumulation plan targets 210,000 BTC by 2027, approximately 1% of the total Bitcoin supply, potentially making it the world’s second-largest public BTC holder behind MicroStrategy. Metaplanet’s actions showcase the growing trend of public firms treating digital assets as strategic reserves, providing institutional investors and Japanese clients with tax-efficient exposure through zero-coupon bonds. The strategy has driven a 430% year-to-date surge in Metaplanet’s share price, with intraday spikes of over 25% and strong technical momentum, though indicators suggest possible overbought conditions. This move, alongside similar actions by companies like SharpLink and GameStop, highlights rising corporate adoption of crypto treasury management in Asia and beyond. The ongoing corporate accumulation of Bitcoin is expected to boost both short- and long-term demand and price stability, although increased volatility remains likely.
Bullish
Metaplanet’s aggressive Bitcoin accumulation strategy is a strong bullish signal for Bitcoin. Large-scale corporate purchases, especially using innovative financial instruments like zero-coupon bonds, reflect rising institutional confidence in Bitcoin as a treasury asset and inflation hedge. The company’s rapid acquisition and ambitious 210,000 BTC target suggest continued market demand, supporting both short-term price surges and possible long-term price stability for BTC. Similar trends observed in other public firms reinforce the perspective that corporate treasury adoption is accelerating, which historically has contributed to price appreciation and higher trading volumes. However, the rapid run-up in Metaplanet’s stock and high RSI values also point to potential volatility. Overall, the net effect is bullish for Bitcoin’s price as supply is further constrained by institutional holdings.