Metaplanet Surpasses Coinbase In Bitcoin Holdings With $117 Million Purchase: Japan’s Crypto Giant Now Targets 1% Of BTC Supply By 2027

Japanese tech company Metaplanet has overtaken Coinbase Global Inc. (NASDAQ:COIN) in Bitcoin holdings after acquiring an additional 1,112 BTC for $117.2 million, CEO Simon Gerovich announced Monday on X.

What Happened: The purchase, made at an average price of $105,435 per Bitcoin, pushed Metaplanet’s total holdings to 10,000 BTC. According to data from Bitcointreasuries.net, this positions the company ahead of Coinbase’s 9,267 BTC holdings, marking a significant shift in the corporate Bitcoin landscape.

Metaplanet’s stock surged 17.23% to 1,769 yen ($12.27) following the announcement. The company’s shares have gained over 408% year-to-date, reflecting investor enthusiasm for its Bitcoin accumulation strategy.

Full story available on Benzinga.com