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Metaplanet Acquires 10,000 BTC, Surpasses Coinbase as 9th Largest Bitcoin Holder | Flash News Detail | Blockchain.News
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6/24/2025 5:20:41 AM

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

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.

Source

Analysis

Japanese investment firm Metaplanet executed a landmark 1,112 BTC acquisition on June 16 at an average price of $105,435 per bitcoin, totaling $117.2 million according to CEO Simon Gerovich's X announcement. This strategic purchase elevates their total holdings to 10,000 BTC valued at $947 million, surpassing Coinbase's 9,267 BTC reserves documented by BitcoinTreasuries.com. Since initiating its Bitcoin accumulation strategy in April 2024, Metaplanet maintains an average acquisition cost of $94,697 per BTC. The company's bitcoin yield metric demonstrates explosive growth, surging 309.8% in Q4 2024 and maintaining 87.2% growth in Q2 2025 through June 16. To fund further acquisitions, Metaplanet issued $210 million in zero-coupon bonds, triggering a 26% stock price rally to 1,895 yen on June 16. This positions Metaplanet as the ninth-largest corporate Bitcoin holder globally, signaling accelerated institutional adoption from Asian markets.

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.

Farside Investors

@FarsideUK

Farside Investors is a London based investment management company. Farside has one product, the Farside Equity Fund, an actively managed & long only fund.

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