When Titans Tweet About Their Bitcoin Stacks

Today, Michael Saylor of Strategy (formerly MicroStrategy) and Simon Gerovich (CEO of Metaplanet) engaged in a playful banter on X, due to Metaplanet rising to fifth place in the list of top public Bitcoin treasury companies.

Saylor commented that Metaplanet should keep rising until the second place, and then they’ll fight for the first place. This is alluding to the fact that Strategy is by far the leading company on that list, holding approximately 592,345 Bitcoin.

In fact, it was reported that between June 23 and June 29, the company bought another 4,980 Bitcoin for approximately $531.9 million at an average price of $106,801 per Bitcoin. This just cements its lead as it’s now believed that MicroStrategy owns 597,325 Bitcoin.

As for Metaplanet, the company broke into the top five after acquiring 1,005 Bitcoin (around $108 million) this week, raising its stash to 13,350 Bitcoin.

Ahead of it are also MARA Holdings, Inc. at second place, having 49,859 Bitcoin, XII at the third place with 37,230 Bitcoin under its belt, followed by Riot Platforms, Inc. at fourth with 19,225 Bitcoin.

Interestingly, Metaplanet is the only Japanese company in the first 10, or rather, the only Asian company in the first ten, as all others are from North America – 8 hail from the US and one from Canada.

Corporate Bitcoin accumulation

Lately, there has been a surge in corporate Bitcoin accumulation, where about 130 publicly traded companies now hold a combined $87 billion in Bitcoin, which accounts for roughly 3.2% of the maximum supply.

Seems that Michael Saylor’s high-profile strategy inspired many, as companies are issuing stocks and bonds to fund purchases, hoping to boost share value through scarcity.

This turn of events is important for the crypto industry, since it validates Bitcoin as a viable corporate reserve asset, diversifying away from fiat and bonds. If this continues, there could be an impact on the price as well, considering that massive corporate buying reduces market supply, potentially fueling future price gains.

Still, with this many companies buying (and from the looks of it, the number will keep growing), it’s quite possible there will be some scrutiny from regulators and global audit frameworks.