Metaplanet Surpasses MARA Holdings in Global Bitcoin Treasury Rankings

Metaplanet's recent surge to the third spot in global bitcoin treasury rankings has caught attention in the cryptocurrency market. This shift is largely attributed to MARA Holdings' significant sell-off of 15,133 BTC for approximately $1.1 billion between March 4 and March 25.

This sale has reduced MARA's holdings to 38,689 BTC from a total of 53,822 at the start of the year. The company framed this move as balance sheet management, aiming to reduce outstanding convertible debt by about 30%.

Metaplanet, on the other hand, has been actively accumulating BTC, with a total holding of 40,177 BTC and an average cost basis of approximately $97,000. Its broader ambitions include expanding its holdings to 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.