Metaplanet buys 8,888 BTC, becomes 9th largest Bitcoin holder worldwide
Metaplanet has become the ninth-largest corporate holder of Bitcoin, acquiring an additional 1,088 BTC for $117.9 million at an average price of $108,400 per coin. This acquisition increased its total holdings to over 8,888 BTC, surpassing Galaxy Digital Holdings. Large corporate purchases above $100,000 per BTC indicate growing institutional confidence amid financial uncertainty in Japan's bond markets. Analysts suggest that ongoing instability could drive Bitcoin prices to new highs, with predictions exceeding $200,000. Bitcoin reached an all-time high of over $112,000 on May 22 but retraced to $105,464. Analysts view this consolidation as a healthy development for future price increases. Concerns exist regarding a potential bubble in Bitcoin proxy stocks, as Metaplanet's stockholders are paying significantly more than the actual price of BTC.
