Metaplanet Acquires 10,000 BTC, Surpasses Coinbase as 9th Largest Bitcoin Holder

According to Simon Gerovich on X, Metaplanet purchased an additional 1,112 BTC for $117.2 million at an average price of $105,435 per bitcoin, increasing its total holdings to 10,000 BTC and overtaking Coinbase's 9,267 BTC as the ninth-largest public company holder per BitcoinTreasuries.com data. With a cumulative investment of $947 million at an average cost of $94,697 per BTC and strong bitcoin yield metrics like 309.8% in Q4 2024, this aggressive accumulation signals robust institutional demand that could drive BTC price support. The company funded purchases through $210 million in zero-percent bonds, and shares surged 26%, reflecting positive market sentiment for crypto investments.
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This acquisition catalyzed immediate trading opportunities across correlated assets. Bitcoin prices surged 4.4% to $105,475 within 24 hours of the announcement according to BTCUSD trading data, while Bitcoin-heavy public equities like MicroStrategy gained 8.7%. The ETHBTC pair rose 3.1% to 0.02296 as capital rotated into large-cap crypto assets, evidenced by BTCUSDT volume spiking to 14.14 BTC equivalents. Notably, institutional inflows created asymmetric opportunities in Bitcoin-adjacent instruments: Bitcoin mining stocks outperformed BTC by 12% intraday, while CME Bitcoin futures open interest increased $1.2 billion. Traders should monitor Japanese yen-denominated crypto pairs like BTC/JPY, which exhibited 18% higher volatility than USD pairs during Tokyo trading hours. The zero-coupon bond structure signals Metaplanet's intent for additional purchases, creating predictable demand catalysts at $100,000-$105,000 support levels.
Technical indicators reveal strengthening momentum across crypto markets. Bitcoin's 24-hour trading range expanded to $5,810 ($100,058-$105,868) with volume concentration above $103,000 confirming strong institutional absorption. The BTC dominance index rose 1.8% as capital rotated from altcoins, though select tokens like AVAXBTC (+6.7% to 0.0002267) and SOLBTC (+3.9% to 0.0013689) outperformed. On-chain data shows exchange reserves dropping 23,000 BTC since June 10, indicating supply constriction that amplifies corporate buying impact. Critical correlations emerged: Metaplanet shares now show 0.92 beta to Bitcoin prices, while USD/JPY currency pairs inversely correlated (-0.87) with BTC/JPY flows. Volume analysis reveals algorithmic traders front-ran the announcement, with BTCUSDC pairs recording $41.15 million in block trades 90 minutes before the X post. The RSI reading of 68 on daily charts suggests near-term consolidation before testing the $107,000 resistance level.
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