Big companies are still buying Bitcoin ($BTC) even as prices fluctuate. Two major firms, Strategy (formerly known as MicroStrategy) and Metaplanet, have added more Bitcoin to their holdings.
These purchases show that businesses still see Bitcoin as a valuable asset, despite its recent price changes.
On March 17 2025, Strategy, the largest public corporate Bitcoin holder led by Michael Saylor, announced that it had bought 130 more Bitcoin.
The company paid an average price of about $82,981 per Bitcoin, spending a total of around $10.7 million.
This is the smallest Bitcoin purchase Strategy has ever made. The company first started buying Bitcoin in August 2020 when it acquired 21,454 $BTC for $250 million.
The latest purchase was made using money from its new “STRK ATM” program, which aims to raise up to $21 billion to buy more Bitcoin.
With this recent purchase, Strategy and its related companies now own 499,226 $BTC. The firm has spent about $33.1 billion on these holdings, with an average price of $66,360 per Bitcoin, including fees and other costs. Strategy needs to buy just 774 more $BTC to reach a total of 500,000 $BTC.
Even though Bitcoin’s price recently dropped below $80,000, Strategy’s latest purchase is significantly smaller than its previous acquisitions.
Before this, the smallest purchase the company made was in August 2024, when it bought 169 $BTC.
So far in 2025, Strategy has purchased 51,656 $BTC in seven separate transactions. It has spent around $4.4 billion on these purchases and has seen a gain of $2.6 billion in Bitcoin’s value compared to the dollar.
The company’s “BTC $ Gain” indicator, which tracks the value of its Bitcoin holdings based on market prices, shows that Strategy is still 74% away from reaching its 2025 target of $10 billion in profit from Bitcoin.
At the end of 2024, Strategy’s BTC $ Gain was $13.8 billion, and its Bitcoin yield, which measures returns on investment, was 74%. However, its current yield is now at 6.9%, much lower than its goal of 15% by 2025.
Metaplanet’s aggressive Bitcoin buying strategy
Metaplanet, a Japanese investment firm, has also continued to increase its Bitcoin holdings. On 17 March 2025, the company announced that it had purchased 150 $BTC at an average price of ¥12.5 million ($83,611) per Bitcoin.
This latest purchase brings Metaplanet’s total Bitcoin holdings to 3,200 $BTC, which is worth over $266 million based on current market prices. The company has been steadily buying Bitcoin since April 2024 when it launched its Bitcoin Treasury Operations.
Because of this strategy, Metaplanet is often compared to Strategy and has even been called the “Asian Strategy”.
To finance its latest Bitcoin purchase, Metaplanet issued ¥2 billion ($13.3 million) worth of ordinary bonds to EVO FUND. This marks the ninth time the company has issued bonds to raise funds for Bitcoin purchases.
The company had previously issued the same amount in bonds to EVO FUND on February 27, 2025, with the goal of using the money to buy more Bitcoin.
Even though the company continues to buy Bitcoin, its stock price dipped slightly by 0.5% to ¥4,030 after the bond issuance. However, its stock has increased by 15.8% so far in 2025.
Over the past year, the stock price has skyrocketed by 1,819%, according to Yahoo Finance. Meanwhile, Japan’s Nikkei 225 index rose by 1.2% on the same day.
Metaplanet’s Bitcoin yield, which measures the amount of Bitcoin held per share, grew by 309.8% in the fourth quarter of 2024.
In the first quarter of 2025, from 1 January to 18 March, the Bitcoin yield increased from 53.2% to 60.8%, showing the company’s continued commitment to Bitcoin accumulation.
On 12 March 2025, just a few days before this latest purchase, Metaplanet had acquired 162 $BTC, bringing its total holdings at the time to 3,050 $BTC.
The company has ambitious goals for its Bitcoin strategy. It aims to hold 10,000 $BTC by the end of 2025 and reach 21,000 $BTC by 2026.
This aggressive strategy has helped boost its stock price, which has risen by more than 3,000% since it started buying Bitcoin.
Bitcoin’s current market performance
Despite companies like Strategy and Metaplanet increasing their Bitcoin holdings, the market has been volatile. Bitcoin has fallen slightly by 0.24% in the past 24 hours and is currently trading at around $83,323.
Over the past week, Bitcoin has gained 3.5%, but its monthly performance has been negative, with a 14% decline.
Bitcoin’s price struggles to stay above $85,000. On 14 March 2025, Bitcoin attempted to break past this level but failed, despite a 1.9% gain in the S&P 500 index. Since reaching its all-time high of $109,354 on 20 January, Bitcoin has dropped by 30%.
However, despite these price fluctuations, the derivatives market suggests that traders remain optimistic. The Bitcoin basis rate, which measures the premium of futures contracts over spot prices, briefly showed bearish signals on 13 March.
But it has since recovered, showing that traders are still engaged in the market. While the current basis rate is 5%—lower than the 8% recorded two weeks ago—it remains within a neutral range. Traders typically look for a 5% to 10% premium to compensate for longer settlement periods.
In another sign of institutional confidence, spot Bitcoin exchange-traded funds (ETFs) recorded a strong single-day inflow of $274.59 million on 17 March. BlackRock’s iShares Bitcoin Trust (IBIT) led the market with an inflow of $42.26 million.
However, despite this short-term confidence, digital asset investment products have seen outflows for five consecutive weeks, with investors withdrawing a total of $1.7 billion over the past seven days.
Even as Bitcoin’s price moves up and down, major companies like Strategy and Metaplanet continue to buy more $BTC. Strategy’s purchase of 130 $BTC was its smallest ever, but it still remains the largest corporate Bitcoin holder.
Metaplanet, meanwhile, is continuing to aggressively expand its Bitcoin holdings and has ambitious long-term targets.
While Bitcoin’s market performance has been shaky, institutional interest remains strong. With large firms and ETFs continuing to accumulate Bitcoin, the cryptocurrency market is still attracting major investments despite its volatility.
