The corporate Bitcoin market has seen a significant turn as the Japanese company Metaplanet surpasses Tesla in terms of Bitcoin reserves.
Metaplanet Surpasses Tesla in Bitcoin Reserves
On Thursday, Metaplanet announced the acquisition of an additional 1,234 bitcoins at an average price of 15.6 million yen (around $108,000) per unit. This operation, valued at $133 million, increased the company's holdings to 12,345 BTC, surpassing Tesla's 11,509 BTC. Metaplanet now ranks seventh globally in Bitcoin reserves according to BitcoinTreasuries.NET.
Company's Ambitious Future Plan
Metaplanet aims to increase its reserves to 201,112 BTC by 2027 as part of its strategic 'Plan 555 million.' This will require investment of over $21 billion at current prices. To finance these ambitions, the company plans to raise capital, having recently approved a funding round of up to $5 billion.
Shifts in Corporate Investment Strategies
Metaplanet's current position underscores the changing corporate understanding of Bitcoin as a strategic asset. Companies worldwide, including Nakamoto Holdings and The Blockchain Group, are also increasing their Bitcoin reserves, indicating a structural shift in the perception of cryptocurrencies as long-term holdings.
Thus, Metaplanet is redefining the standards of institutional investments in cryptocurrency, standing out against traditional tech giants. By surpassing Tesla, the company symbolizes a new era where Bitcoin becomes an important part of corporate strategy.
