On May 12, Metaplanet announced it purchased 1,241 BTC at 14.8 million yen (about $101,843) per coin. That single deal is worth around $129 million at today’s prices. The firm first started piling into Bitcoin in April 2024. Since then, it has made ever-larger buys each month.
Metaplanet’s per-coin average price paid is currently around $91,000. At that price, the firm is holding around a $13,000 profit for each Bitcoin it purchased. With 6,796 coins in its treasury, those profits total a paper profit of over $88 million at current market value of approximately $707 million.
Metaplanet now holds more Bitcoin than El Salvador. From humble beginnings to rivaling nation-states, we’re just getting started.
El Salvador continues to be the sixth-largest holder of countries with 6,714 Bitcoin worth approximately $642 million, according to the National Bitcoin Office. Metaplanet’s crossing beyond that threshold places it in rare company. Only nine other entities in the world hodl more, including Michael Saylor’s Strategy.
Metaplanet’s approach illustrates how certain companies now view Bitcoin as something more than a wager—they handle it as a staple asset. To investors who have been monitoring institutional adoption, each new owner who creeps past a nation or a big-name company is big news. And in this competition, Metaplanet just outran everyone.
Featured image from Gemini Imagen, chart from TradingView
