Metaplanet & Strategy’s Bold Bitcoin Moves Now Control 3.1% of Total Supply—Here’s Why It Matters

Two players just flipped the script on Bitcoin accumulation. Metaplanet and an unnamed Strategy have aggressively stacked sats—now holding a staggering 3.1% of all Bitcoin in existence. This isn't your grandma's dollar-cost averaging.

The whale watch is on

While Wall Street debates ETFs, these entities bypassed paperwork and went straight to the source. No intermediaries, no apologies—just cold, hard private keys.

Supply shock incoming?

With 21 million BTC ever to exist, their 3.1% grab tightens the noose on available supply. Retail traders now compete with institutional-grade HODLers who treat volatility like a discount coupon.

One financier quipped: 'They'll probably lobby for a Bitcoin split next—Wall Street loves creating shares out of thin air.' The race for digital scarcity just got fiercer.

Growing the stash

Strategy Chairman Michael Saylor announced the firm’sof 430 BTC in an Aug. 18 post on social media. The acquisition was worth nearly $51.4 million at an approximate price of $119,666 per Bitcoin and has a BTC Yield of 25.1% this year.

With the latest addition, Strategy now holds 629,376 BTC, representing nearly 3% of Bitcoin’s total supply. 

The company invested over $46 billion with the average price per BTC at $73,320, resulting in an unrealized profit of over $27 billion as Bitcoin is priced at $116,535 as of press time.

Metaplanet reported purchasing 775 BTC at an average price of ¥17.72 million per coin ($119,853), totaling ¥13.73 billion in expenditures ($92.8 million).

Following the acquisition, Metaplanet now holds 18,888 BTC acquired at a blended average of ¥15.04 million each ($101,726), with a cumulative investment of ¥284.1 billion ($1.9 billion).

Metaplanet has accelerated its Bitcoin treasury operations throughout 2025, more than quadrupling holdings since March.

Together, Strategy and Metaplanet now command nearly 3.1% of circulating Bitcoin, a concentration that highlights the increasing role of listed corporations in the asset’s distribution.

Both companies rely on capital markets to fund their treasuries, amplifying the interplay between equity valuations and Bitcoin accumulation. As these programs expand, the balance between shareholder dilution and treasury accretion will remain under close investor watch.

Strategy updates accumulation policy

Strategy’s acquisitions have drawn renewed scrutiny following its. 

The company now categorizes issuance plans based on multiples of net asset value (mNAV), stating it will actively issue stock to buy Bitcoin when trading above 4.0x mNAV, and opportunistically issue between 2.5x and 4.0x. 

Below 2.5x, issuances are limited to debt servicing and dividends, while sub-1.0x levels may trigger buybacks using credit. 

This framework differs from guidance released less than one month earlier, which outlined stricter limits on equity issuance below 2.5x mNAV.