Metaplanet Now Holds More Bitcoin Than a Nation-State
The Tokyo-based investment firm Metaplanet has surpassed El Salvador, the first nation to embrace and adopt Bitcoin as legal tender, in terms of the number of BTC held in reserves.
The company now holds 6,796 BTC, presently valued at approximately $706.28 million USD, exceeding El Salvador’s 6,174 BTC, worth about $641.54 million USD.
This feat shows growing institutional interest in Bitcoin and a competitive race for cryptocurrency accumulation.
Metaplanet Boosts Its Bitcoin Reserves with 1,241 BTC Purchase
Metaplanet has been aggressively buying Bitcoin since April 2024, adopting a treasury strategy similar to that of Strategy.
On May 12, 2025, the firm announced it purchased 1,241 BTC for $129 million at an average price of $101,843 per coin, bringing its total to 6,796 BTC. With an average purchase price of $91,000, its holdings are valued at $706 million, based on Bitcoin’s current price of $103,916.
CEO Simon Gerovich posted on X that Metaplanet aims to reach 10,000 BTC by the end of the year, which will make it a big global Bitcoin player. The company sees Bitcoin as a hedge against inflation and fiat currency devaluation, a sentiment that institutional investors around the world share.
El Salvador Stays the Course with Bitcoin Reserves
El Salvador, led by President Nayib Bukele, became the first country to recognize Bitcoin as legal tender in 2021 as part of efforts to achieve financial inclusion and economic innovation.
The country has since bought 6,174 BTC valued at approximately $641.54 million in consistent purchases and state-operated Bitcoin mining operations.
El Salvador BTC Holdings (Source: El Salvador GOB)
Recent data from the Ministry of Finance, shared in an X post on May 12, 2025, confirms the nation added 8 BTC last week.
The nation’s policy on Bitcoin remains a major part of its economic policy, although national adoption is minimal, with 92% of the population not transacting with Bitcoin, a recent survey reported.
Head-to-Head: Metaplanet’s Lead in Bitcoin Holdings
Metaplanet’s 6,796 BTC surpasses El Salvador’s 6,174 BTC, a difference of 622 BTC or roughly $64.6 million at current prices.
The company’s latest purchase alone accounts for nearly 20% of its total holdings, showing a faster accumulation rate compared to El Salvador’s gradual daily purchases.
El Salvador and Metaplanet both hold massive Bitcoin relative to their profiles—a corporate investment firm compared to a nation.
What Metaplanet’s Win Means for Bitcoin’s Future
Metaplanet’s surpassing El Salvador represents a milestone in Bitcoin’s competitive landscape, with corporations increasingly rivaling nation-states in reserve size.
These acquisitions and reserves could encourage other firms to adopt Bitcoin into their treasuries, further strengthening its legitimacy as an asset class.
For El Salvador, the comparison shows challenges in scaling Bitcoin adoption and navigating economic stability, including IMF agreements that have limited some crypto policies.
As Metaplanet targets 10,000 BTC following Bitcoin’s price stability, the race for cryptocurrency dominance intensifies.
