Japanese Bitcoin investment giant Metaplanet, which has been continuously increasing its BTC holdings, has seen a significant rise in stock trading volume in June.
According to Reuters, Metaplanet’s trading volume rose to 1.86 trillion yen ($12.87 billion) in June. Tokyo Stock Exchange data shows that the numbers are nearly double the 997.6 billion yen ($6.82 billion) in May.
The firm’s June trading volume surpassed that of Toyota Motor and Sony Group on the prime market, while the top spot was taken by Advantest.
Further, the company has been maintaining its top position since November last year, the report added. The hotelier-turned Bitcoin acquisition company is currently the world’s fifth-largest corporate buyer of Bitcoin.
Metaplanet’s Tokyo-listed shares have surged more than 345% this year, after it made a “strategic pivot” to become a Bitcoin treasury firm in 2024.
Japanese Bond Market Chaos: Investors Turn to Metaplanet Due to Transparency
Per Metaplanet’s website, the company now holds 15,555 Bitcoin worth $1.69 billion at press time.
With Japan’s 30-year government bond prices dropping 45% since 2019, investors are increasingly looking into Metaplanet as a Bitcoin proxy, due to the instability in fixed-income markets.
Analysts noted that despite the rally, the company’s market net asset value (mNAV) is reasonable and has room to grow.
Additionally, Metaplanet has been transparent in providing Proof of Reserves for its Bitcoin holdings, unlike its peers. The company CEO, Simon Gerovich, has publicly released on-chain verification of the company’s BTC assets.
This comes in contrast with the largest BTC corporate holder, Strategy’s CEO, Michael Saylor, who recently called on-chain proof-of-reserves a “bad idea” that could pose security threats.
On Monday, Metaplanet announced a 2,205 Bitcoin acquisition, the latest purchase in its aggressive accumulation strategy.
Since early 2025, the company has expanded its Bitcoin holdings from just 4,000 BTC in March to over 15,500 BTC in July, a fourfold increase in its position in just four months.
Crypto Community Raise Concerns Over Corporate BTC Treasury Strategy
However, there is skepticism among the community around the sustainability of the growing Bitcoin treasury trend. Matthew Sigel, head of digital asset research at VanEck, noted that BTC holding firms may have shaky ground, as rising threats might erode shareholder value.
Besides, Glassnode lead analyst James Check, raised concerns over the longevity of the corporate Bitcoin treasury strategy. He argues that these firms have “a far shorter lifespan than most expect.”
“It’s about how serious & sustainable your product & Strategy is to sustain the accumulation,” he wrote on X last week.
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