Metaplanet, a Japanese investment firm, has surpassed Elon Musk's Tesla to become the seventh-largest corporate Bitcoin holder after acquiring an additional 1,234 BTC.
With this latest purchase, Metaplanet now holds a total of 12,345 BTC, with an average price of $98,303 per BTC, amounting to around $1.3 billion at the current market price.
Taking inspiration from Michael Saylor's strategy, Metaplanet aims to secure 1% of Bitcoin's supply by accumulating 210,000 BTC by the end of 2027, with a target of 30,000 BTC by the year's close.
The investment firm has rebranded itself to focus on building a strategic Bitcoin reserve, funded through a combination of stock and bond sales, including a capital injection of up to $5 billion for its U.S. subsidiary to accelerate its BTC acquisition strategy.