Bitcoin Holdings Hit 20K BTC as Metaplanet Surpasses Riot Platforms

Metaplanet Inc. (3350) purchased 1,009 Bitcoin (BTC) valued at roughly $112 million, raising its total treasury to 20,000 BTC and overtaking Riot Platforms (RIOT) to become the company with the sixth-largest corporate Bitcoin reserve.

The Tokyo-based firm continues to treat Bitcoin as a core reserve asset. According to a Monday filing, Metaplanet’s cumulative Bitcoin purchases now total 302.3 billion yen, at an average cost of 15.1 million yen per BTC.

The company’s rapid accumulation has made it one of Asia’s most prominent publicly traded Bitcoin adopters. Between July 1 and September 1, Metaplanet recorded a BTC yield of 30.7%, with a multiple to net asset value (mNAV) just under 2.

Despite the milestone purchase, shares of Metaplanet dropped 5.5%, closing at 831 yen.