Bitcoin is flexing its dominance again, holding steady at $119,000 while the rest of the crypto market scrambles to keep up. On August 12, Japanese investment firm MetaPlanet scooped up another 518 BTC worth $61.4 million, pushing its total stash to a jaw-dropping 18,113 BTC. Their average buy price? Around $101,911 per coin which means they’re already way in profit.
This isn’t just random buying. MetaPlanet is on a full-blown mission to lock down 210,000 BTC by 2027. Just over a week ago, they grabbed 463 BTC for $53.7 million, and now they’re doubling down. Their CEO, Simon Gerovich, says the company’s Bitcoin portfolio is up an insane 468.1% year-to-date.
Why Bitcoin Is the Big Play Here
Here’s the thing institutional players like MetaPlanet and MicroStrategy (which owns 628,946 BTC) aren’t just stacking for fun. They’re betting on Bitcoin as the future reserve asset, something that will hold and grow value when everything else feels shaky. With Japan showing big interest, this could shift how global markets see crypto.
And MetaPlanet’s pace? Relentless. They’ve even filed to raise 555 billion yen through a share sale to fund more buys. This filing became active on August 9 and runs until 2027, so the shopping spree has just begun.
If this momentum keeps up, Bitcoin could see a much stronger institutional floor and the days of sub-$100K BTC might soon be gone for good.
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