Metaplanet joins top 10 corporate bitcoin holders

Bitcoin had a sluggish week, with the price stalled in the mid-$80,000 range for another week.

Metaplanet, a Japanese company known for its massive bitcoin accumulation, has entered the top 10 corporate bitcoin holders.

The company, which is focused on metaverse and Web3 technologies, has been steadily buying bitcoin throughout the year, and its holdings have now reached 3,200 bitcoin, valued at over $5 billion at current prices.

This follows a period of relatively sluggish activity for bitcoin, with the price remaining stalled in the mid-$80,000 range for another week.

Many in the crypto space were also hoping for some big announcements from President Trump at the Digital Asset Summit, but his hyped appearance was simply a short, prerecorded message.

There was nothing of substance in the under three-minute speech, which went against the hype circulating on social media.

However, there was some crypto news from the Trump family this week, as Eric Trump was appointed to a strategic board of advisors by Metaplanet.

The younger Trump is now among the advisors who will provide "valuable insights and guidance to support Metaplanet's vision for the future of bitcoin and Web3."

"This appointment marks a significant step in Metaplanet's continued mission to drive bitcoin adoption and strengthen its position as a global leader in the bitcoin economy," Metaplanet said in a statement.

The company also bought 150 bitcoin this week, bringing its stash to 3,200 bitcoin.

"With today's Bitcoin purchase, Metaplanet has leapfrogged into the Top 10 publicly listed Bitcoin holders globally!" Metaplanet CEO Simon Gerovich posted on X.

Meanwhile, Bitcoin mining company Strategy continues to hold the largest publicly disclosed bitcoin reserve.

The company, which is led by former MicroStrategy CEO Michael Saylor, added 130 bitcoin to its stash this week, bringing its total to 499,226 bitcoin.

Finally, psychedelics-focused biotech company ATAI announced it was establishing a bitcoin reserve.

Chairman Christian Angermayer said in a post that the company "will invest an initial position of $5 million in bitcoin."