The Japanese hotel and investment firm Metaplanet (MTPLF) now holds more Bitcoin (BTC) than Coinbase.
Metaplanet says that it added another 1,112 BTC to its books, bringing its total holdings to 10,000 BTC, making it the ninth-largest holder of the flagship crypto asset among public companies.
BitcoinTreasuries.net data shows that Coinbase, the top US crypto exchange, currently holds 9,267 Bitcoin, 733 fewer Bitcoin than Metaplanet.
The public company with the largest Bitcoin holdings remains Strategy, formerly MicroStrategy, with 592,100 Bitcoin.
Metaplanet chief executive Simon Gerovich says the firm acquired the new Bitcoin for $105,435 per BTC and has achieved a yield of 266.1% on the top crypto asset year to date. Metaplanet’s 10,000 Bitcoin were acquired for $947 million at an average price of $94,697 per BTC.
In 2024, the company said it would start buying the top crypto asset as part of a Bitcoin Treasury strategy.
The aim is to reach 21,000 BTC in holdings by the end of 2026. Gerovich said previously that he “worries every day” that the company doesn’t own enough Bitcoin.
“The window to buy won’t stay open forever. Soon, there will be two kinds of people: those who own Bitcoin and those who regret not buying it. At Metaplanet, we’re accumulating as much as we can so our shareholders can relax.”
Metaplanet also operates a Tokyo hotel that it plans to renovate and rebrand into “the Bitcoin Hotel.”
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