Japanese Bitcoin Stock: Michael Saylor-Inspired Company Leaves Galaxy, CleanSpark Trailing, Becomes Fifth-Largest BTC Corporate Holder

Japanese investment firm Metaplanet Inc. (OTC:MTPLF) surpassed a couple more Nasdaq-listed companies to become the fifth-largest Bitcoin (CRYPTO: BTC) corporate holder on Monday.

What happened: The Tokyo-headquartered firm announced the additional purchase of 1,005 BTC at an average price of approximately $107,923 per BTC via an X post. 

With this grab, Metaplanet's total holdings have now reached 13,350 BTC, worth $1.4 billion. According to data from Bitcointreasuries.net, this places the company ahead of Galaxy Digital Inc. (NASDAQ:GLXY) and CleanSpark Inc. (NASDAQ:CLSK), making it the fifth-largest Bitcoin-owning corporate. Note that the updated holdings had not yet been reflected on the site as of this writing.

Michael Saylor's Strategy was sitting pretty at the top with 592,345 BTC, worth over $64 billion. Leading Bitcoin mining firms like MARA and Riot following suit.

MSTR stock demonstrated a very high momentum score as of this writing. But how does it stack against Coinbase? Find out by visiting Benzinga Edge Stock Rankings.

Why It Matters: Metaplanet's aggressive Bitcoin-buying blitz has taken the cryptocurrency world by storm. Just earlier this month, it overtook cryptocurrency behemoth Coinbase Global Inc. (NASDAQ:COIN) in BTC holdings. 

The frantic pace of purchases in the last year could be gauged by the fact that just about a year ago, it had only 141 BTC in its reserves. The company revised its ambitious target to hold over 210,000 BTC by end-2027.

Metaplanet executives have publicly acknowledged Saylor and his Bitcoin holding company as their inspiration.

Price Action:  At the time of writing, Bitcoin was exchanging hands at $108,291.50, up 0.88% in the last 24 hours, according to data from Benzinga Pro.

Photo Courtesy: Rido on Shutterstock.com

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