Corporate Giants Gobble Up Bitcoin: MicroStrategy & Metaplanet Now Control 3.1% of Total Supply

Wall Street’s quiet accumulation just got loud. Two publicly traded firms now hold a combined 3.1% of all Bitcoin in existence—proving even traditional finance can’t resist digital gold (though they’ll still charge you 2% management fees for the privilege).

Who’s buying?

MicroStrategy and Metaplanet have gone all-in, turning their balance sheets into de facto Bitcoin ETFs. The moves signal institutional conviction—or perhaps just desperation to outperform the S&P 500.

Why it matters

When corporations hoard scarce assets, retail gets squeezed. With only 21 million BTC ever to exist, this land grab could accelerate FOMO—and volatility.

The bottom line

Whether this is strategic genius or a speculative bubble depends entirely on Bitcoin’s next price swing. But one thing’s certain: the suits are here, and they’re not asking permission.

Strategy

On August 18, MicroStrategy Chairman Michael Saylor announced the firm’s latest purchase of 430 BTC, valued at nearly $51.4 million at an average price of $119,666 per bitcoin.

This brings MicroStrategy’s total holdings to 629,376 BTC, acquired at an average price of $73,320 per coin.

At current market prices, the company’s unrealized profit exceeds $27 billion.

You can track MicroStrategy’s historical bitcoin acquisitions on the MicroStrategy bitcoin holdings tracker.

Metaplanet

Metaplanet also revealed the acquisition of 775 BTC at an average price of ¥17.72 million ($119,853) per coin, totaling ¥13.73 billion ($92.8 million).

The company’s total holdings now stand at 18,888 BTC, acquired at an average blended price of ¥15.04 million ($101,726), with a cumulative investment of ¥284.1 billion ($1.9 billion).

For more details, see the Metaplanet bitcoin treasury tracker.

Impact on bitcoin supply and liquidity

The combined accumulation by these two companies highlights the increasing role of corporate treasuries in tightening available bitcoin liquidity.

As both rely on capital markets to fund their purchases, their growing BTC reserves are closely watched by investors.

MicroStrategy’s new issuance policy

MicroStrategy updated its equity issuance policy on August 18.

The company now plans to issue stock to buy bitcoin when its share price trades above 4.0x net asset value (mNAV) and will act opportunistically between 2.5x and 4.0x.

Issuance below 2.5x is limited to debt servicing and dividends, while sub-1.0x may trigger share buybacks.

This revised framework marks a shift from stricter guidelines released just a month before, reflecting MicroStrategy’s evolving approach as it continues to accumulate bitcoin.