Japan's Metaplanet hits 10,000 BTC, tops Coinbase

On June 16, 2025, Japanese investment firm Metaplanet announced the acquisition of 1,112 bitcoin (BTC), bringing its total holdings to 10,000 BTC.

This puts Metaplanet ahead of Coinbase Global, which holds 9,267 BTC, according to Bitcointreasuries.net.

The US$117.2 million purchase was made at an average price of US$105,435 per bitcoin, as stated by Metaplanet CEO Simon Gerovich on X.

The company plans to issue zero-interest bonds worth US$210 million to EVO Fund, with proceeds aimed at further bitcoin acquisitions.

Metaplanet’s shares rose 17.23% to 1,769 yen (US$12.28) following the announcements. Its stock has surged over 408% since the beginning of the year, based on Yahoo Finance data.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Bitcoin treasury strategy creates corporate competition for finite supply

Metaplanet’s aggressive Bitcoin acquisition is part of a broader corporate race to accumulate Bitcoin, with significant implications for the asset’s scarcity.

The company’s goal to hold 210,000 BTC (1% of total supply) by 2027 reflects a growing trend where corporations view Bitcoin as a treasury asset rather than merely a speculative investment.

MicroStrategy remains the dominant corporate holder with 582,000 BTC, while Metaplanet has now surpassed Coinbase’s 9,267 BTC holdings 1.

This competition among corporations is creating a new dynamic in the Bitcoin market, where institutional buying strategies directly impact available supply.

The substantial market rewards for these strategies are evident in Metaplanet’s 408% stock price increase year-to-date, demonstrating investor confidence in Bitcoin as a corporate treasury asset.

2️⃣ Zero-interest bonds emerge as innovative Bitcoin acquisition financing

Metaplanet’s $210 million zero-interest bond issuance represents a sophisticated financial strategy being adopted by Bitcoin-accumulating corporations.

This financing approach allows companies to acquire Bitcoin without immediate interest expenses, optimizing their capital structure while building digital asset holdings 2.