This latest purchase boosts Metaplanet’s holdings to 13,350 BTC—which is valued at approximately $1.45 billion. It also puts Metaplanet ahead of Tesla, Coinbase, and Block Inc. The firm financed its Bitcoin expansion with a strategic bond refinancing move, issuing $208 million in 0% bonds, which also allowed it to buy back existing debt. CEO Simon Gerovich also mentioned a 349% year-to-date yield and revealed ambitious new targets of 100,000 BTC by 2026 and 210,000 BTC by 2027.
Meanwhile, Bitcoin mega-holder Strategy continues its aggressive accumulation streak with 11 consecutive weeks of BTC purchases, which recently brought its total holdings to over 592,000 BTC. Inspired by these moves, Spanish café chain Vanadi Coffee also pivoted to a Bitcoin-centric model, and now holds 54 BTC. It plans to become a crypto-centric investment play in the European market.
Metaplanet Buys 1005 BTC
Japanese Bitcoin treasury firm Metaplanet overtook mining company CleanSpark to become the fifth-largest corporate holder of Bitcoin. This happened after a purchase of 1,005 BTC for $108 million.
This brings the company's total holdings to 13,350 BTC, which was acquired at an average price of around $97,832 per coin. At current market prices, Metaplanet’s Bitcoin treasury is valued at approximately $1.45 billion. The milestone places Metaplanet ahead of Tesla, Hut 8, Coinbase, and Block Inc., leaving only Strategy, Marathon Digital, Twenty One Capital, and Riot Platforms ahead in total Bitcoin holdings.
The purchase follows Metaplanet’s announcement of a bond refinancing plan to help expand its Bitcoin reserves. The firm issued 30 billion yen ($208 million) in 0% ordinary bonds from its EVO fund, enabling it to both buy more Bitcoin and buy back and cancel 1.75 billion yen ($12 million) of its third series bonds that carried a 0.36% interest rate. This effectively allowed Metaplanet to secure an interest-free float to boost BTC accumulation.
CEO Simon Gerovich stated that the latest acquisition was made at an average price of $107,601 and that the firm achieved a 349% year-to-date yield on its Bitcoin investments. Earlier this month, Metaplanet revised its long-term strategy by raising its 2026 target to 100,000 BTC and unveiling an even more ambitious goal of acquiring 210,000 BTC by 2027. If achieved, this will position the firm as the world’s second-largest corporate Bitcoin holder.
After the announcement, Metaplanet’s stock price surged 9% on Monday, extending its year-to-date gains to over 360%. This is according to Google Finance.
Metaplanet YTD stock price (Source: Google Finance)
Saylor Signals More BTC Buys
Meanwhile, Strategy co-founder Michael Saylor signaled the company’s 11th consecutive week of Bitcoin purchases, a streak that began on April 14. In a recent post to his followers on X, Saylor wrote, “In 21 years, you’ll wish you’d bought more.” Over the past year, Saylor added roughly one million followers, which serves as great proof of his growing influence in the crypto space.
The company’s most recent acquisition took place on June 23, when it bought 245 BTC for $26 million, pushing its total holdings to 592,345 BTC,. This is valued at over $63.6 billion. It also firmly cemented Strategy as the largest known corporate holder of Bitcoin, with a treasury more than double that of the next 20 public companies combined, according to data from BitcoinTreasuries.
Top public Bitcoin treasury companies (Source: BitcoinTreasuries.NET)
While some analysts argue that Strategy’s relentless accumulation could trigger a supply shock and push BTC prices higher, others are voicing concerns about the long-term sustainability of this model. Critics point out that several companies emulating Strategy’s debt- and equity-financed BTC strategy could face serious trouble if Bitcoin’s price drops.
A recent report from venture capital firm Breed pointed out that only a small number of Bitcoin treasury firms are likely to survive a market downturn. The report suggests that failures in the space could lead to a wave of acquisitions and industry consolidation, with stronger players absorbing distressed firms. Breed’s analysts explained that new entrants face even greater risks, as they have to secure capital at steeper terms and with higher leverage than Strategy.
Despite the risks, Strategy’s position seems very secure due to its massive BTC reserves and its proven resilience during previous bear markets. The company’s commitment to steady accumulation even during down cycles has been referred to as a key trait of successful Bitcoin treasury firms.
Meanwhile, market analyst Jeff Walton recently projected that Strategy has a 91% probability of joining the S&P 500 index by Q2 of 2025.
Vanadi Coffee Shifts to Bitcoin Strategy
Vanadi Coffee, a Spanish cafe chain with six locations, also recently made a bold pivot in its business strategy by approving a €1 billion ($1.17 billion) Bitcoin investment plan. This decision follows a challenging fiscal year for the company, which reported a €3.3 million ($3.86 million) loss in 2024. This was a 15.8% increase from the previous year’s deficit. Faced with mounting losses, Vanadi is turning to Bitcoin as a core part of its financial future, and plans to adopt the cryptocurrency as its primary reserve asset.
In an official statement, the company said it began incorporating various financial instruments to support its Bitcoin-focused direction last April. By adopting Bitcoin as a strategic store of value, Vanadi Coffee is signaling a long-term commitment to both crypto investment and broader involvement in the digital asset ecosystem. The company also stated that it plans to diversify into Bitcoin management and other crypto-related ventures. This will reshape its traditional coffee business into a hybrid model that embraces decentralized finance.
Vanadi’s decision is inspired by major players in the Bitcoin treasury space like Strategy and Japan’s Metaplanet, both of which have accumulated huge BTC reserves as part of their corporate strategies. Vanadi plans to become one of the few publicly listed BTC treasury firms in the Spanish and EU markets, which could potentially create a unique investment opportunity for European investors who are looking for exposure to crypto through traditional equities.
In a separate announcement, Vanadi revealed that it bought an additional 20 BTC on Sunday, increasing its total holdings to 54 BTC—valued at approximately $5.8 million. The company partnered with Bit2Me, a well-known Spanish cryptocurrency firm, as its exclusive provider of liquidity and custody services.
Vanadi Coffee shares over the past month (Source: Google Finance)
Investor sentiment seems to be responding favorably so far. According to Google Finance data, shares of Vanadi Coffee on Spain’s BME Growth exchange have tripled in value this month, after the announcement of its Bitcoin accumulation strategy.
