Japan’s Metaplanet Surpasses Bhutan in Bitcoin Holdings, $400M Ahead

Metaplanet’s aggressive Bitcoin buying strategy has paid off, allowing the company to surpass Bhutan’s $1.3 billion Bitcoin holdings. With its latest purchase of 2,205 BTC, Metaplanet now holds $1.7 billion worth of Bitcoin, putting it $400 million ahead of Bhutan’s holdings.

Metaplanet Leads in Bitcoin Holdings, Bhutan Falls Behind

According to the latest reports, Metaplanet’s 15,555 BTC holdings have overtaken Bhutan’s entire Bitcoin collection, which currently stands at nearly 13,000. Arkham Intelligence recently shared an update in an X post, disclosing the current BTC holdings of Metaplanet and Bhutan.

In response to Arkham Intelligence’s revelation, Metaplanet CEO Simon Gerovich noted, “MetaPlanet currently holds more BTC than the nation of Bhutan!” In another X post, Gerovich reiterated the platform’s commitment to its BTC strategy, asserting, “Metaplanet is Bitcoin first, Bitcoin only. Our singular focus right now is to accumulate as much Bitcoin as possible.”

Last day, CoinGape reported that Metaplanet acquired an additional 2,205 BTC, worth $238.7 million, bringing its total holdings to 15,555 BTC, worth 225.8 billion yen ($1.7 billion). As Metaplanet targets acquiring 100,000 BTC by 2026 and 210,000 BTC by 2027, it is expected to continue its aggressive Bitcoin buying spree.

Interestingly, the company is also planning to leverage its Bitcoin holdings to explore more business opportunities, including a potential digital bank purchase. As CoinGape reported yesterday, Metaplanet’s trading volume hit $12.8 billion in June, surpassing major Japanese firms like Toyota and Sony.

Bhutan’s Crypto Leap

On the other hand, Bhutan has become one of the top three sovereign Bitcoin holders, trailing only the United States and China, with its $1.3 billion in BTC holdings. Recently, the Himalayan Kingdom announced plans to hold its Bitcoin reserves long-term, abandoning its previous approach of selling them to fund government spending. An official stated,

We are now committed to holding our bitcoin reserves as a strategic asset for the kingdom’s future

Significantly, Bhutan’s BTC journey began in 2019-2020, leveraging its rich hydropower resources for mining. Led by the royal family and state-owned Druk Holding & Investments, the initiative partnered with companies like Bitdeer and Green Digital. By channeling excess renewable energy into mining, Bhutan kept operational costs low while minimizing its environmental footprint.

In another significant development that proves the country’s crypto enthusiasm, Bhutan launched the world’s first national crypto tourism payment system, partnering with Binance Pay and DK Bank. Travelers can now seamlessly use cryptocurrency to pay for almost every aspect of their trip in the Himalayan kingdom.

In conclusion, Metaplanet overtakes Bhutan in Bitcoin holdings, while Bhutan cements its crypto leadership with innovative initiatives. The race for crypto dominance continues, with both players setting ambitious targets.