- Metaplanet’s BTC holding hit 6.79K, surpassing El Salvador’s 6.1K BTC.
- The firm was about 30% away from its 10K BTC target by the end of 2025.
On the 12th of May, Japan’s Strategy, Metaplanet, announced an additional 1,241 Bitcoin [BTC] purchase, bringing its overall stash to 6,796 BTC. The BTC’s stash is worth over $700 million, based on current market prices.
Interestingly, Metaplanet has now flipped El Salvador’s holding, which was at 6,174 BTC (worth $642 million) per Bitcoin Office data.
Metaplanet’s BTC plan
For comparison, El Salvador began its BTC acquisition plan in 2021, while Metaplanet jumped on the trend last year.
In fact, the Tokyo-based firm has a target of buying 10,000 BTC by the end of 2025.
With more than six months left to go and about 30% shy of the target, the company could even surpass the 10K BTC mark if the aggressive buying trend remains on track.
The firm uses the Strategy playbook, including the capital raising model based on debt and equity issuance.
Source: Metaplanet (Capital raising model)
Strategy (formerly MicroStrategy) has an overwhelming stash of 568,840 BTC as of the time of writing. The massive BTC exposure has allowed the firm’s MSTR shareholders to benefit handsomely.
From a year-over-year basis, MSTR has jumped 238% while BTC gained 63%. But Metaplanet share has offered better returns than MSTR and BTC.
On a yearly basis, Metaplanet increased by 1,800% while on YTD (year-to-date), the share price rose 58%.
On a YTD returns, MSTR rallied 28% while BTC pumped 6%, meaning Metaplanet outperformed on the price front, despite having relatively less BTC stash than Strategy.
Source: TradingView (BTC vs MSTR, Metaplanet performance)
That said, several public firms have jumped on the BTC corporate treasury bandwagon to offer shareholders better Metplanet-like returns.
According to Bitbo, public companies alone have acquired 724K BTC (worth $75B) or about 3.4% of the total BTC supply.
Overall, the BTC adoption by countries and firms (public and private) accounts for 15% of the total supply (over 3 million BTC) or $330B.
Simply put, institutional and nation-state adoption has become a significant catalyst for the BTC price.