Metaplanet Overtakes Coinbase After Buying More Bitcoin

This happened after Metaplanet’s latest purchase of 1,112 BTC worth $117 million. With total holdings now at 10,000 BTC, Metaplanet’s accumulation pace has intensified. The company also plans to acquire up to 210,000 BTC by the end of 2027. Investor confidence appears strong, with the firm’s share price up 22% on the day of the announcement and over 430% year-to-date. 

Meanwhile, VanEck’s Matthew Sigel issued a warning to Bitcoin-buying firms about potential shareholder dilution if stock prices fall below BTC net asset value. He specifically pointed to Semler Scientific’s recent struggles. Despite the concerns, institutional inflows into crypto investment products remain robust, with $1.9 billion in inflows last week.