Japanese investment firm Metaplanet has added another $129 million to its Bitcoin treasury, pushing its total holdings past the Bitcoin-stacking country of El Salvador.
“Metaplanet now holds more Bitcoin than El Salvador. From humble beginnings to rivaling nation-states, we’re just getting started,” said CEO Simon Gerovich on X after the latest purchase announcement.
On May 12, the Tokyo-listed firm announced that it had acquired 1,241 Bitcoin (BTC) for 14.8 million yen ($101,843) per coin.
The total buy, at its highest ever purchase price, is worth around $129 million at current market prices.
This brings the firm’s total holdings to 6,796 Bitcoin, currently worth around $707 million, and the average purchase price is $91,000 per Bitcoin. Metaplanet started its BTC accumulation strategy in April 2024.
El Salvador is the sixth-largest nation-state holder of the asset with 6,714 Bitcoin worth around $642