Metaplanet Becomes 8th Largest Bitcoin Holder After $118 Million Purchase

Japanese investment firm Metaplanet has surged into the global spotlight, becoming the eighth-largest corporate Bitcoin holder after acquiring an additional $117.9 million worth of BTC. This aggressive move reinforces Metaplanet’s strategy to accelerate Bitcoin adoption across Asia and cements its place among the world’s top institutional players.

$118 Million Bitcoin Buy Boosts Holdings to 8,888 BTC

On June 2, Metaplanet announced it had purchased 1,088 Bitcoin at an average price of $108,400 per coin. With this latest acquisition, the firm’s total holdings now exceed 8,888 BTC, surpassing Galaxy Digital’s 8,100 BTC and Block Inc.’s 8,485 BTC, according to on-chain data from Bitbo.

The 10 largest Bitcoin holding companies worldwide. Source: Bitbo

The significance of Metaplanet’s latest purchase is not just the dollar amount but the timing — buying large volumes above the $100,000 mark signals strong institutional confidence in Bitcoin’s ongoing bull market cycle.

The move comes against a backdrop of rising financial uncertainty, particularly in Japan’s bond markets, where volatility and yield spikes have raised investor concerns about fiscal sustainability.

Institutional Confidence Fuels Bullish Outlook

André Dragosch, head of European research at Bitwise Asset Management, noted that the instability in traditional financial systems could continue to fuel Bitcoin’s rise.

“Based on today’s default probability across G20 sovereign bonds, Bitcoin is already priced above $200,000,” Dragosch estimated, suggesting that institutional demand could push Bitcoin to new highs by year’s end.

Government bonds are typically viewed as safe-haven assets. However, when their yields rise sharply, it often reflects growing market concerns about debt sustainability and repayment risk — factors that increasingly push investors toward alternative stores of value like Bitcoin.

Bitcoin Retraces After Hitting All-Time High

Bitcoin recently reached a new all-time high, crossing $112,000 on May 22, before pulling back to around $105,464 at the time of writing. According to analysts, this consolidation phase is a healthy development, helping reset leveraged positions and build a sustainable foundation for the next rally.

Analysts at Bitfinex pointed out that Bitcoin’s ability to hold above the short-term holder cost basis near $95,000 is key for maintaining bullish momentum.

“The coming weeks will likely determine whether Bitcoin’s latest breakout was a local high or the setup for a more aggressive move higher in Q3,” the analysts noted.

Bubble Fears Surround Bitcoin Proxy Stocks

While Bitcoin itself has cooled slightly, some market watchers are growing concerned about potential overvaluation in Bitcoin proxy stocks — companies whose valuations are closely tied to Bitcoin’s price movements.

Metaplanet’s stock, for example, has seen its Bitcoin premium soar to an astonishing $596,000, raising questions about whether the firm’s share price is outpacing its actual Bitcoin holdings and underlying value.

As institutional interest continues to build and corporate treasuries grow their Bitcoin reserves, all eyes are now on how the market will balance enthusiasm with caution — and whether the next big leg up is already underway.