Metaplanet, Strategy Buying Bitcoin as BTC OGs Cash Out

10 hours ago by · 2 mins read

Metaplanet has become the fifth-largest corporate Bitcoin holder, expanding its treasury to 13,350 BTC amid continued institutional demand.

Japan’s leading corporate Bitcoin BTC $107 292 24h volatility: 0.3% Market cap: $2.13 T Vol. 24h: $22.47 B investor, Metaplanet, closed June with the acquisition of an additional 1,005 BTC worth around $108 million. The purchase was made at an average price of $107,601 per Bitcoin.

CEO Simon Gerovich confirmed the purchase on June 30, emphasizing the firm’s commitment to increasing its Bitcoin reserves. Metaplanet’s total holdings now stand at 13,350 BTC, currently worth around $1.4 billion.

The latest shopping positions Metaplanet as the world’s fifth-largest publicly listed corporate Bitcoin holder, overtaking Galaxy Digital’s 12,830 BTC and CleanSpark’s 12,502 BTC.

Metaplanet’s stock reflected investor enthusiasm, jumping 9.9% this morning in Japan. Its year-to-date gains has reached 370% with a 53% price surge in the past month alone, according to Yahoo Finance.

Huge Flywheel Buying Frenzy Ahead?

Metaplanet’s aggressive accumulation comes amid a broader wave of institutional and corporate Bitcoin purchases. Just last week, real estate heavyweight Cardone Capital and mineral exploration company Panther Metals announced their Bitcoin accumulation strategy.

However, Capriole Investments founder Charles Edwards recently noted that long-term Bitcoin holders, or “Bitcoin OGs,” have been selling into this institutional demand since the launch of spot Bitcoin ETFs in January last year.

Edwards further highlighted that Bitcoin holders with over six months of holding time have surged dramatically in just two months, absorbing nearly all the Bitcoin that long-term holders had offloaded over the past 18 months.

He explained that while ETF inflows have dominated headlines, the surge in corporate Bitcoin treasuries is emerging as a more powerful narrative. The situation is potentially creating a “huge flywheel buying frenzy” that could further drive corporate adoption of Bitcoin.

Strategy Extends Bitcoin Buying Streak

Meanwhile, Strategy co-founder Michael Saylor hinted at another Bitcoin purchase on June 29, marking what could be the company’s 11th consecutive week of BTC accumulation.

Saylor remains confident in Bitcoin’s long-term potential, with his firm holdings now surpassing the combined BTC reserves of the top 20 public Bitcoin treasury companies. He recently predicted that Bitcoin could hit a price of $21 million within the next 21 years.

At the time of writing, BTC is trading at above $108,000 with a market capitalization of $2.15 trillion. Despite a 78% price gain over the past year, the largest cryptocurrency is struggling to surpass its all-time high of $112,000 set last month.

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