Bitcoin News: Metaplanet Becomes 8th-Largest Bitcoin Holder With $118M Purchase Amid Asia-Led Institutional Surge

Japanese investment firm Metaplanet has vaulted into the global top 10 corporate Bitcoin holders, following a bold $117.9 million BTC purchase that underscores growing institutional conviction across Asia.Metaplanet has officially become the eighth-largest corporate holder of Bitcoin, after acquiring 1,088 BTC at an average price of $108,400 per coin. This strategic move brings its total holdings to 8,888 BTC, surpassing major players like Galaxy Digital Holdings (8,100 BTC) and Block Inc. (8,485 BTC), based on the latest Bitbo data.The announcement was made via an official post on June 2, signaling Metaplanet’s continued push to lead Bitcoin adoption across Asia amid rising sovereign debt instability, particularly in Japan.Corporate Buying Above $100K Signals Market ConfidenceThis purchase marks another major milestone in institutional Bitcoin accumulation, especially at levels above $100,000, a zone many once deemed too speculative. Analysts interpret such buys as a signal of long-term belief in Bitcoin’s role as a hedge against macro uncertainty.According to André Dragosch, Head of European Research at Bitwise Asset Management, Bitcoin could climb to $200,000 by year-end if current default risks among G20 sovereign bonds persist.“Based on today’s default probability across all these G20 sovereign bonds, it’s already above $200,000 for Bitcoin,” Dragosch stated.BTC Consolidates After $112K ATHFollowing a new all-time high of $112,000 on May 22, BTC has retraced to ~$105,464, according to Cointelegraph data. Analysts at Bitfinex describe the retracement as "healthy", attributing it to leverage flush-out and consolidation near the short-term holder cost basis (~$95,000).“Bitcoinʼs ability to continue to consolidate above its short-term holder cost basis remains key,” Bitfinex analysts noted.They add that the coming weeks will be crucial, potentially determining whether this pullback is a local top or the base for a stronger Q3 surge.Bubble Concerns Around Bitcoin Proxy StocksHowever, not all indicators are bullish. Some market observers warn that Bitcoin proxy stocks may be entering overheated territory. Notably, Metaplanet’s BTC premium reached $596,000, meaning investors are paying over five times the actual BTC price for exposure via the company’s stock.This premium could hint at exuberance in Bitcoin-related equity markets, raising concerns over sustainability if BTC prices were to correct more sharply.Metaplanet’s historic Bitcoin purchase signals a new era of Asian institutional leadership in digital asset investment. While bullish momentum continues to build — bolstered by macro pressures and rising demand — volatility, equity overvaluation, and global regulation will remain key drivers to watch in the months ahead, according to Cointelegraph.