Japanese investment firm Metaplanet has injected $5 billion into its U.S. subsidiary, Metaplanet Treasury Corp., as part of its plan to grow its bitcoin (BTC) holdings and expand globally in the digital asset space. The funds will be used to accelerate the company’s “555 Million Plan” to buy up to 210,000 BTC by the end of 2027—1% of bitcoin’s total supply. Metaplanet has already made good progress, recently increasing its holdings to 11,111 BTC, worth over $1.1 billion. Metaplanet allocates $5 billion to its wholly owned U.S. division Metaplanet’s U.S. arm, Metaplanet Treasury Corp, launched in May 2025, and based in Florida, is a key part of the company’s strategy. Florida and Miami in particular have become pro-Bitcoin havens, and digital asset infrastructure is growing. By entering the U.S. market, the company will benefit from deep capital markets, institutional infrastructure and transparent regulations to buy and manage large amounts of bitcoin. The company will access both exchange and over-the-counter (OTC) markets for large BTC purchases. “This U.S. expansion underscores our determination to establish a globally integrated treasury model,” Metaplanet said in a statement. “The Company believes this approach will drive long-term accretion to shareholder value, enhance treasury yield efficiency, and reinforce our positioning at the forefront of Bitcoin-based capital market innovation.” The $5 billion will be funded by exercising stock acquisition rights from previously issued convertible securities. The funds will be used exclusively for bitcoin purchases with no change to the use of proceeds as previously disclosed. The “555 Million Plan” was announced on June 6, 2025 and outlines Metaplanet’s path to becoming one of the world’s largest corporate bitcoin holders. The company will buy 30,000 BTC by the end of 2025, and 210,000 BTC over the next few years. This is not just a financial move but a strategic one. It’s about building a transparent, efficient and global treasury on bitcoin. Metaplanet’s stock has gone up over 1,250% in the last 6 months and part of that is due to their aggressive push into bitcoin. But the recent announcement has caused short-term volatility in the stock. After hitting $15 the U.S.-listed MTPLF, shares dropped to $10.9 and the Tokyo-listed shares dropped 5.38% closing at 1,547 JPY. MTPLF price chart — TradingView Despite the dip, institutional investors are showing strong interest. Citigroup and Capital Group have reportedly bought 3 million shares of Metaplanet this month. Analysts see this as a sign of growing confidence in bitcoin-focused corporate strategies. Some analysts are worried about the premium in Metaplanet’s stock and say it’s pricing bitcoin at $596,000 to $759,000 per coin—way above current market prices. This has sparked debate about sustainability and stock dilution but also shows investors want bitcoin exposure through equities. Metaplanet is part of a growing trend of public companies adding bitcoin to their treasuries. Over 240 public companies now hold over 832,000 BTC combined, according to BitcoinTreasuries. Companies like Cardone Capital, Nakamoto Holdings and CleanSpark are also increasing their bitcoin reserves.

Japanese investment firm Metaplanet has officially surpassed Elon Musk’s Tesla to become one of the largest corporate holders of bitcoin in the world. With a recent purchase of 1,234 BTC, the company now holds 12,345 BTC worth around $1.33 billion. This big move puts the Tokyo-listed company ahead of Tesla’s 11,509 BTC and makes it the 7th largest corporate bitcoin holder globally. The latest purchase cost Metaplanet around $132.7 million, made at an average price of $107,557 per bitcoin. The company has spent around $1.2 billion in total to buy 12,345 BTC, averaging a cost basis of $97,036 per coin. Metaplanet CEO Simon Gerovich announced the company now holds 12,345 BTC and reiterated its commitment to a bitcoin-focused strategy for long-term shareholder value. In just 2 weeks the Japanese firm has moved from 10th to 7th place among all corporate bitcoin holders, surpassing big companies like Coinbase, Block Inc. and Hut 8. Metaplanet, originally a budget hotel company, has transformed into a bitcoin-treasury-focused investment firm. Its strategy is inspired by Michael Saylor’s Strategy, the largest corporate bitcoin holder with over 590,000 BTC. Unlike Strategy, Metaplanet has chosen a more conservative approach by not using debt to buy bitcoin. Instead, it raised funds through equity sales. Just a day before the latest bitcoin purchase the company completed a ¥74.9 billion (around $515 million) equity raise, issuing 54 million new shares backed by institutional investors like EVO FUND. This is the largest single-day equity-based bitcoin treasury event ever recorded. Metaplanet isn’t stopping at 12,345 BTC. It has set ambitious targets: to buy 30,000 BTC by the end of 2025, 100,000 by 2026 and 210,000 by 2027. These are part of what the company calls its “555 Million Plan” which involves raising up to $5 billion to buy more bitcoin. The company has already made 2 big purchases—1,111 BTC a few days ago and 1,234 BTC yesterday—and has increased its bitcoin holdings by nearly 10x since January. Metaplanet bitcoin purchase history — BitcoinTreasuries The bitcoin buying has had mixed effects on Metaplanet’s stock. After a 25% drop from its recent high of 1,900 JPY, the company’s stock has stabilized at around 1,560 JPY. Some see the dip as a buying opportunity. Gerovich said he believes trading volume is the “lifeblood” of a bitcoin treasury firm, pointing out Metaplanet’s $840 million daily trading volume. Trading volume of different companies — Simon Gerovich on X Despite the growth, the company has attracted the attention of hedge funds, some of which have shorted the stock due to concerns over shareholder dilution from the rapid equity issuance. But Metaplanet’s decision to not use debt is seen by others as a protection against long-term financial risk. Metaplanet’s big bet is happening during a broader bitcoin boom. Bitcoin prices are up to $107,000, 1.5% in the day and 74% since late June 2024. Analysts point to geopolitical stability and the Fed not raising rates as the reason for the market confidence.

Digital asset platform Bakkt Holdings Inc. has filed a shelf registration with the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion. The company says the funds could be used to support a new bitcoin and digital asset investment strategy, a big change for the company. Bakkt, which is publicly traded and backed by Intercontinental Exchange (ICE)—the parent company of the New York Stock Exchange—said it may sell a mix of common stock, preferred shares, debt instruments and warrants. The money raised could be used for general corporate purposes or to buy bitcoin for its corporate treasury. “We may acquire Bitcoin or other digital assets using excess cash, proceeds from future equity or debt financings, or other capital sources,” the company said in its SEC filing. The shelf registration, filed June 26, allows Bakkt to offer these securities at any time, as needed. This gives the company the flexibility to raise funds quickly without having to file new paperwork each time it wants to sell securities. This follows a big decision by the company’s Board of Directors on June 10 when it approved an updated investment policy. The new policy allows the company to include bitcoin and other digital assets as part of its broader treasury and corporate strategy. Bakkt updated its investment policy Although Bakkt has not yet purchased any bitcoin, the company says it’s preparing for the right moment. The company said when and how much digital assets it buys will be based on market conditions, how the capital markets respond, the company’s financial performance, and other strategic priorities. Founded in 2018, Bakkt initially offered physically-settled bitcoin futures. Over the years, it also tried tokenized loyalty rewards and digital asset custody services, but those efforts have not gained much traction. Now the company is positioning itself as a “pure-play crypto infrastructure company” with international expansion and digital treasury management in its sights. “This initiative is intended to support Bakkt’s transformation into a pure-play crypto infrastructure company,” said Akshay Naheta, Co-CEO of Bakkt. “We believe this multi-pronged approach reflects our conviction in the future of digital assets and our vision for Bakkt’s expansion internationally and as a leader in the world of programmable money.” The company’s leadership also mentioned emerging global opportunities, particularly in Asia where countries like Singapore and Hong Kong have more regulatory clarity and liquidity in the digital asset space. “Bakkt’s jurisdiction-flexible strategy is well-positioned to succeed in Asia,” said Charmaine Tam of Hex Trust. He noted markets like Hong Kong and Singapore have clear regulations, deep liquidity and mature financial systems, perfect for the firm’s institutional digital asset play. Despite its big plans, Bakkt is still struggling financially. The company admitted in the filing that it has a “limited operating history” and a “history of operating losses.” It also lost some big clients recently, including Bank of America and Webull, who declined to renew their contracts. This has raised questions about the company’s long-term viability.

Vanadi Coffee, a small café chain based in Alicante, Spain, has officially approved an ambitious plan to invest up to €1 billion (about $1.17 billion) in bitcoin. The decision, made during a shareholder meeting on June 29, is a big change for the company which has just 6 locations and has been losing money. Despite reporting a net loss of €3.3 million in 2024 and only €2 million in annual revenue, Vanadi is betting its future on bitcoin. The company will adopt bitcoin as its main reserve asset, like bigger players such as U.S.-based Strategy (formerly MicroStrategy) and Japan’s Metaplanet. “Investing in Bitcoin is a long-term commitment to a new decentralized financial model,” Vanadi said in an official statement. “Vanadi Coffee is diversifying its business into Bitcoin investment and management and other cryptocurrency-related areas.” The idea to go bitcoin-first surfaced 3 weeks ago when Vanadi’s chairman, Salvador Martí, proposed the plan after months of falling stock prices and poor financial performance. When the company went public in July 2023, shares were trading at €3.28. By early June 2025, shares had dropped to €0.28 – a 91% drop. Vanadi Coffee called bitcoin a strategic asset and said it could help protect and grow the company’s assets. In May, the café chain made its first bitcoin purchase: 5 BTC at a cost of around $527,000. After that announcement, the stock went up. But the boost faded as bitcoin’s price dropped and investors waited for action. Now that the plan is approved, Vanadi has started to execute. The company has just added 20 BTC to its holdings, bringing the total to 54 BTC – worth around €5.8 million. Vanadi will fund its bitcoin accumulation through convertible financing and capital raises, meaning the company can issue new debt or equity to bring in funds. This gives flexibility but could also dilute existing shareholder value if not managed properly. The board has been authorized to “negotiate one or more convertible financing lines to finance the implementation of the aforementioned bitcoin accumulation strategy up to a maximum limit of 1 billion euros,” the company announced. The strategy is already getting institutional attention. Two of the backers are Patblasc Software Consulting, a small local firm that offered €50 million and Alpha Blue Ocean, an international investment group that is supporting Vanadi as part of a €1.5 billion program across 15 companies. Despite the doubts, the market is loving it. Vanadi’s stock has gone up 240% in the last month and over 500% this year and is one of the top performers on Spain’s BME Growth index. Vanadi’s stock price chart — TradingView Shares more than tripled in June after the company announced it was going all in on bitcoin. Analysts are divided. Some see it as bold and forward-thinking. Others warn of huge risks given the company’s lack of experience in digital assets and its small size. Analysts say the café chain’s €1 billion bitcoin bet is a huge risk and will backfire if the bitcoin market drops or regulators intervene. Critics point out several concerns. Vanadi has thin margins and rising costs. On the other hand, Spain’s regulatory stance on large corporate bitcoin investments is unclear. What sets Vanadi apart is the scale of its bet relative to its size. €1 billion in bitcoin is the biggest bitcoin pivot ever by a company of this kind and size in Europe. Will this bet pay off or will it become a cautionary tale? Only time will tell.