Metaplanet has risen to become one of the top 30 corporate Bitcoin holders worldwide following its recent acquisition.

On June 11, Metaplanet disclosed its purchase of 23.25 Bitcoin for ¥250 million ($1.59 million), averaging ¥10,706,180 ($69,627) per Bitcoin. This transaction increased the company’s total Bitcoin holdings to 141.07 BTC, acquired for ¥1.45 billion ($9.2 million) at an average price of ¥10,278,391 ($65,365) per Bitcoin.

This marks Metaplanet’s third Bitcoin acquisition in three months, starting with 97.85 Bitcoin in April, followed by 19.87 BTC in May.

Metaplanet, a publicly traded Japanese company in hospitality and technology services, is the first on the Tokyo Stock Exchange to invest in Bitcoin. Following this latest purchase, its stock price surged 10% to ¥89, according to Google Finance data.

Bitcoin's Institutional Adoption

Metaplanet's latest move reflects a broader trend among companies integrating Bitcoin into their treasury assets.

Recently, companies like Semler Scientific and DeFi Technologies have acquired nearly 1,000 BTC, viewing it as a hedge against inflation and protection from monetary devaluation.

Chris Kuiper, Director of Research at Fidelity Digital Assets, highlighted the logic behind smaller and microcap companies being early adopters of Bitcoin, citing their higher stake and a similar trend seen in certain countries.

He noted:

"It's noteworthy how these companies highlight Bitcoin's role as an inflation hedge and protection from monetary devaluation, echoing each other's perspectives on its perceived value gap."

However, these acquisitions pale in comparison to MicroStrategy, the largest corporate holder of Bitcoin, with over 210,000 BTC, constituting more than 1% of the total circulating supply of the digital asset.