In a notable shift within the cryptocurrency landscape, Tokyo-based Metaplanet Inc. has ascended past Tesla in the ranking of public companies holding Bitcoin. The company recently disclosed the acquisition of 1,234 BTC, enhancing its overall treasury to an impressive total of 12,345 BTC. This transaction, detailed in a filing dated June 26, 2025, highlights the firm’s commitment to expanding its Bitcoin investment portfolio. The BTC was procured at an average price of ¥15.62 million each, summing to approximately ¥19.27 billion. The total acquisition cost of Metaplanet’s Bitcoin treasury now stands at ¥175.68 billion, equating to about $1.11 billion at current market rates.
Metaplanet’s Rise in the Bitcoin Rankings
As per BitcoinTreasuries.net, with a Bitcoin spot price of around $107,400, Metaplanet’s BTC holdings are valued at nearly $1.33 billion, positioning the company in seventh place among publicly traded Bitcoin holders. Companies currently leading the rankings include CleanSpark (12,502 BTC), Galaxy Digital (12,830 BTC), Riot Platforms (19,225 BTC), XXI (37,230 BTC), Marathon Digital (49,678 BTC), and MicroStrategy, who dominates the landscape with a staggering 592,345 BTC. Tesla now sits in eighth place with a reported 11,509 BTC.
Metaplanet’s accumulation strategy has shown significant momentum. The total number of Bitcoin held has escalated from 398 BTC as of September 30, 2024, to 10,000 BTC in June 2025, with yesterday’s purchase marking another leap forward. The company appears resolute in its ambitions, having conveyed plans to amass up to 210,000 BTC—approximately 1% of Bitcoin’s total supply—by the end of 2027. This aggressive goal suggests the intention to acquire over 200,000 BTC in the upcoming two and a half years.
To support this aggressive expansion, Metaplanet has employed a unique financing approach. It has rolled out a series of zero-coupon bonds in both yen and dollars and has consistently redeemed previous tranches early using the proceeds from new issuances. This innovative structure, recognized as the “210 Million Plan,” has successfully channeled over ¥35 billion into Bitcoin purchases, all while maintaining controlled interest expenses.
Management also emphasizes a performance metric termed “BTC Yield,” which quantifies the percentage change in Bitcoin holdings per fully diluted share. As of the latest reporting period, this yield has soared to 112.2%. By clarifying how dilution affects their Bitcoin acquisition, Metaplanet can showcase the net growth in its Bitcoin treasury driven exclusively by its strategic operations.
On the other hand, Tesla has not expanded its Bitcoin holdings since February 2021 and remains stagnant since the liquidation of roughly 75% of its initial $1.5 billion investment back in the second quarter of 2022.
For Metaplanet, surpassing Tesla marks a significant achievement. With its 12,345 BTC, the firm now owns approximately 0.058% of the total Bitcoin supply, edging ahead of Tesla’s 0.054%. This accomplishment also solidifies Metaplanet as the first Asia-based entity to break into the top seven global Bitcoin holders.
As of the latest update, Bitcoin is trading at $107,180.
