Metaplanet becomes 8th largest Bitcoin holder by purchasing over 8,888 BTC

From Cointelegraph

June 2, 2025 4:15 am:

Japanese investment firm Metaplanet has become the world’s eighth-largest corporate holder of Bitcoin, acquiring 1,088 BTC at an average price of $108,400 per coin, totaling $117.9 million. This pushed their total holdings to over 8,888 BTC, surpassing other major holders like Galaxy Digital Holdings and Block Inc.

Large corporate purchases of Bitcoin above $100,000 per BTC signal growing institutional confidence in the current bull market cycle amid financial uncertainty, particularly in Japan’s bond markets. Analysts suggest ongoing instability could drive Bitcoin to new highs by the end of the year, with potential prices exceeding $200,000.

Bitcoin reached an all-time high of over $112,000 on May 22 before retracing to $105,464. Analysts view the consolidation after the high as a positive development, providing a foundation for the next leg up. Concerns arise about a potential bubble in Bitcoin proxy stocks, with Metaplanet’s Bitcoin premium soaring to $596,000.

Analysts from Bitfinex emphasize the importance of Bitcoin consolidating above its short-term holder cost basis of $95,000 for future price movements. The coming weeks will determine whether the recent breakout was a local high or the start of a more aggressive uptrend in Q3.

Read more at Cointelegraph: Metaplanet buys 8,888 BTC, becomes 8th largest Bitcoin holder worldwide