Metaplanet Overtakes Musk's Tesla, Becomes Fifth Largest Corporate Bitcoin Holder
Metaplanet, the Japanese hotelier that has been scooping up bitcoin BTC, has become the fifth largest corporate holder of the largest cryptocurrency, racing past Elon Musk's Tesla.
The Tokyo-listed firm bought 1,234 BTC for $133 million at an average price of $107,877. The latest buy has taken Metaplanet's bitcoin stash to 12,345 BTC at an average price of $98,303.
Metaplanet has been steadily acquiring bitcoin, a strategy that has been copied by a host of firms across the world. The bitcoin reserve strategy was pioneered by Michael Saylor's Strategy, which remains the largest corporate holder of bitcoin with over 570,000 BTC.
Metaplanet's latest buy takes its past Tesla's bitcoin holdings of 11,509 BTC, with the firm only trailing behind large crypto firms, such as MARA, Riot, Galaxy and Strategy.
Read more: Metaplanet Raises $515M, Blockchain Group Adds $4.8M in Bitcoin Treasury Equity Moves
In a surprising turn of events, Metaplanet has surpassed the likes of Musk's Tesla to become the fifth largest corporate holder oft bitcoin in circulation. The reshuffled ranks show increasing faith among top firms from diverse sectors towards digital currencies as viable assets.
The braggart claim by Metaplanet to surpass Tesla in corporate Bitcoin holding, placing itself as the fifth-largest holder amidst shiny announcements does not bode well for sustainable transparency and responsible finance.
The rise of Metaplanet as the fifth largest corporate holder of Bitcoin, surpassing even Musk's Tesla in terms又不of holding volume signals a fascinating new development that hints atngerrevarse effect on cryptocurrency market dynamics and broader technological innovation.
Comments on the news: Impressive Feat! Metaplanet has surpassed Tesla - a bold achievement for any company to become one of Musk's top corporate peers in holding Bitcoin, renewing faith that both established firms and businesses alike recognize Bitcoin as an investment-worthy digital asset.
