According to U.Today, Michael Saylor, the executive chairman of MicroStrategy, has praised the remarkable success of Japanese public company Metaplanet. Saylor welcomed Metaplanet to the 'Bitcoin standard' in a social media post, highlighting its impressive rise among the top 30 publicly listed Japanese companies by trading volume. This achievement places Metaplanet ahead of major corporations like Itochu and NTT.
Metaplanet, previously known for operating budget hotels, has dramatically transformed its business model by heavily investing in Bitcoin, similar to MicroStrategy's approach. Since announcing its Bitcoin strategy in April, Metaplanet has rapidly climbed the ranks of corporate Bitcoin holders. The company's current Bitcoin holdings are valued at $93 million, and it has recently introduced a new debt-for-Bitcoin offering. Metaplanet is poised to surpass other significant players in the Bitcoin space, such as Bitcoin mining equipment manufacturer Canaan and Norwegian industrial giant Aker ASA.
MicroStrategy, often referred to as the '800-pound gorilla' in the Bitcoin market, continues to set the standard for corporate Bitcoin investment. The company's Bitcoin holdings have reached a staggering $30 billion following a record-breaking $4.6 billion purchase. Additionally, MicroStrategy has announced a $1.75 billion debt offer to acquire even more Bitcoin. Despite this success, some industry experts express concerns about the centralization of Bitcoin around Saylor. Eric Conner, founder of EthHub, suggests that Bitcoin's centralization poses a risk, while hedge fund manager Mark Spiegel warns that Saylor might face a fate similar to the Hunt brothers, who famously went bankrupt after attempting to corner the silver market.
