From Tokyo With Bitcoin: Metaplanet Tops El Salvador In Crypto Holdings

Metaplanet, which is listed in Tokyo, has added nearly $130 million to its Bitcoin reserve to become among the largest holders globally, surpassing El Salvador. The company says the latest purchase increases its balance to 6,796 Bitcoin, just a whisker above the 6,714 coins possessed by the Central American country.Market Push In AsiaOn May 12, Metaplanet announced it purchased 1,241 BTC at 14.8 million yen (about $101,843) per coin. That single deal is worth around $129 million at today’s prices. The firm first started piling into Bitcoin in April 2024. Since then, it has made ever-larger buys each month.*Metaplanet Acquires Additional 1,241 $BTC* pic.twitter.com/zrJYzaZJq6— Metaplanet Inc. (@Metaplanet_JP) May 12, 2025Rising Holdings And Paper GainsMetaplanet’s per-coin average price paid is currently around $91,000. At that price, the firm is holding around a $13,000 profit for each Bitcoin it purchased. With 6,796 coins in its treasury, those profits total a paper profit of over $88 million at current market value of approximately $707 million.Metaplanet now holds more Bitcoin than El Salvador. From humble beginnings to rivaling nation-states, we’re just getting started.メタプラネットのビットコイン保有量がついにエルサルバドルを超えました。小さな一歩から始まり、今や国家に匹敵する規模へ。まだまだここからです。 pic.twitter.com/E18Td9tHfc— Simon Gerovich (@gerovich) May 12, 2025Steady Growth By The NumbersThe company’s recent buying sprees have been incessant. In March, it acquired 18,925 coins in six transactions. April featured another four buys worth 18,586 coins. And on May 7, it purchased 5,555 more Bitcoin prior to this week’s transaction. It’s obvious they’ve taken each month as a new chance to stock up some more.Yield Figures Show MomentumAccording to its most recent financial releases, Metaplanet has reported a BTC yield of almost 40% to date for the current quarter. That is up from a 96% yield in the first quarter of 2025. In those instances, “yield” represents how much the value of its Bitcoin holdings appreciated relative to its fully diluted share base.Beating A Nation-State HolderEl Salvador continues to be the sixth-largest holder of countries with 6,714 Bitcoin worth approximately $642 million, according to the National Bitcoin Office. Metaplanet’s crossing beyond that threshold places it in rare company. Only nine other entities in the world hodl more, including Michael Saylor’s Strategy.Saylor’s Suggestion Of Another PurchaseTalking of Saylor, Strategy’s CEO taunted another buy on May 12 by posting a “Saylor Tracker” chart and stating, “Connect the dots.” His firm already owns 555,450 Bitcoin, which is nearly $58 billion today. In the past, such teases have been preceded by new buys.A New Chapter For Corporate TreasuriesMetaplanet’s approach illustrates how certain companies now view Bitcoin as something more than a wager—they handle it as a staple asset. To investors who have been monitoring institutional adoption, each new owner who creeps past a nation or a big-name company is big news. And in this competition, Metaplanet just outran everyone.Featured image from Gemini Imagen, chart from TradingView