Metaplanet Bolsters Bitcoin Holdings with $117.3M Purchase, While Strategy Slows Its Acquisition Pace

On June 2, Japan-based investment firm Metaplanet announced the acquisition of 1,088 Bitcoin (BTC) for approximately $117.3 million, bringing its total holdings to 8,888 BTC, valued at over $938 million at current prices. Meanwhile, Strategy, a company known for its near-weekly Bitcoin purchases since November 2024, disclosed a more modest acquisition of 705 BTC for $75.1 million at an average price of $106,495 per coin. This divergence in acquisition strategies highlights contrasting approaches to Bitcoin accumulation amid a volatile market environment.

Metaplanet’s Aggressive Bitcoin Accumulation

Metaplanet’s latest purchase of 1,088 BTC, executed at an average price of $107,771 per coin, marks a significant escalation in its Bitcoin treasury strategy. Since adopting Bitcoin as a core reserve asset in April 2024, the Tokyo-listed firm has rapidly scaled its holdings, acquiring 3,888 BTC since May alone—representing 43.74% of its total 8,888 BTC stash. The company’s cumulative investment in Bitcoin now stands at ¥122.27 billion (approximately $820 million), with an average purchase price of $93,354 per BTC.

This move positions Metaplanet as the tenth-largest corporate Bitcoin holder globally, trailing behind firms like Strategy and Marathon Digital. The company’s aggressive accumulation has yielded a remarkable 225.4% Bitcoin yield in 2025. Metaplanet’s CEO, Simon Gerovich, celebrated the company’s Bitcoin holdings reaching 8,888 BTC in a post, noting the number’s auspicious significance in some Asian cultures, where 8,888 is associated with prosperity. Gerovich confirmed that the 8,888 BTC are secured, describing the milestone as “a new chapter begins for Metaplanet.”

Metaplanet’s Bitcoin strategy has also bolstered its financial performance. In Q1, the firm reported revenue of $6.139 million, a 943% year-over-year increase, with 88% of its $4.151 million net profit attributed to Bitcoin-related gains. The company’s stock has surged 273.21% year-to-date, reflecting strong investor confidence in its Bitcoin-centric approach.

Strategy’s Softening Pace of Bitcoin Buys

In contrast, Strategy’s latest acquisition of 705 BTC for $75.1 million reflects a slower pace compared to its aggressive buying streak since November 2024. As of June 2, Strategy holds 580,955 BTC, acquired at a cumulative cost of $40.68 billion, with an average purchase price of $70,023 per coin. This latest purchase, at $106,495 per BTC, aligns with Bitcoin’s current trading range but indicates a cautious approach amid recent market turbulence.

Bitcoin’s price has faced downward pressure. After Bitcoin’s price hit a new high above $110,000 in May, it has been trading between $107,000 and $110,000. On May 31, Bitcoin’s price dipped to around $103,000 but has since recovered to approximately $105,000 as of press time. Strategy’s reduced acquisition volume—down from multi-thousand BTC purchases in prior buys—may reflect a strategic pause to assess market conditions.

Despite the slowdown, Strategy’s Bitcoin holdings remain unparalleled, valued at over $61.17 billion at current prices. The company’s consistent buying has positioned it as a bellwether for institutional Bitcoin adoption, with its actions closely watched by investors and analysts alike. However, the firm’s massive exposure to Bitcoin makes it sensitive to price fluctuations. A further decline in Bitcoin’s price could test Metaplanet’s unrealized gains. Crypto research firm K33 noted in its late-May report that Strategy’s slower Bitcoin acquisition pace is partly due to a declining premium of its Class A common stock (MSTR) relative to its Bitcoin holdings, alongside intensifying competition in the corporate Bitcoin treasury race. The report stated: “While bitcoin trades at all-time highs, signs of euphoria remain modest in derivatives and the spot market and are currently arguably only showing in BTC treasury companies, which currently experience thriving demand.”

Institutional Trends and Outlook

Despite Strategy’s moderated acquisition pace, global institutional interest in Bitcoin remains robust. Beyond Strategy and Metaplanet, GameStop recently completed its first Bitcoin purchase as part of its treasury strategy, while Twenty One Capital, backed by Tether and SoftBank, continues to accumulate Bitcoin as planned. Despite short-term price volatility, institutions remain confident in Bitcoin’s long-term price trajectory.

Strategy’s slower acquisition pace suggests it is balancing its belief in Bitcoin’s long-term value with pragmatic responses to market price dynamics. As a dedicated Bitcoin investment firm, Strategy’s ability to navigate price fluctuations and secure lower purchase costs will influence its future financing plans for further Bitcoin acquisitions. Nevertheless, Strategy’s continued purchases underscore its commitment to its Bitcoin treasury strategy, providing confidence to other firms adopting similar approaches.