Institutions Buy Record $1.5B in Bitcoin Amid Volatile June Market

Metaplanet, Strategy, and Cardone Capital lead the charge in the largest corporate Bitcoin acquisition wave to date.

June 2025 has become a defining month in the history of institutional crypto adoption, with public companies and investment firms deploying over $1.5 billion into Bitcoin as market prices dipped. A mix of strategic expansion, treasury reallocation, and bold long-term conviction has driven what is now the largest monthly corporate Bitcoin buying spree ever recorded.

Metaplanet Ramps Up Bitcoin Accumulation Strategy

Japan-based investment firm Metaplanet has emerged as one of the most aggressive corporate Bitcoin buyers. On June 23, the Tokyo-listed company announced a purchase of 1,111 BTC for $118.2 million, averaging $106,408 per Bitcoin. This brings its total holdings to 11,111 BTC, valued at over $1.07 billion at current market prices.

This latest acquisition was timed amid a price correction, with Bitcoin dipping over 4% in the past week, currently trading around $101,000. Metaplanet’s average cost basis remains strong at $95,869 per coin.

The firm’s accumulation effort, which began in mid-2024, has scaled rapidly. Since December, Metaplanet has multiplied its BTC reserves by nearly 28 times, signaling a clear departure from its former identity as a hotel operator. Now rebranded as a digital asset-focused investment company, Metaplanet formalized Bitcoin Treasury Operations as a core business line in December 2024.

Key highlights from Metaplanet’s latest disclosures:

• Q2 BTC yield: 107.9%, up from 95.6% in Q1 and 309.8% in Q4 2024.
• 4,367 BTC gained this quarter, valued at $451.2 million (based on Bitflyer prices).
• Over $300 million raised between May and June through bond issuance and stock rights to fund BTC purchases.
• The firm’s “210 Million Plan” aims to acquire 210,000 BTC by 2027, often referred to as “Japan’s Strategy”.

To finance these purchases, Metaplanet has leaned heavily on financial instruments, issuing and redeeming multiple series of zero-coupon bonds and stock acquisition rights. Much of this has been subscribed by EVO FUND, a key partner in the company’s capital strategy.

As of June 23, the company’s fully diluted share count stood at 759 million, with 0.0146 BTC per 1,000 shares. Despite a 3.5% dip in share price following the latest purchase, Metaplanet shows no signs of slowing its Bitcoin strategy.

Strategy (Formerly MicroStrategy) Adds to Bitcoin Holdings Amid Legal Scrutiny

U.S.-based Strategy, the largest corporate Bitcoin holder, also continued its accumulation streak in June. A June 16 SEC filing revealed the purchase of 10,100 BTC for $1.05 billion, at an average price of $104,080. This brought Strategy’s total holdings to 592,100 BTC, now valued at over $59 billion, accounting for nearly 2.8% of Bitcoin’s total supply.

Despite the aggressive buy, Strategy is facing significant headwinds. A $5.9 billion unrealized loss in Q1—triggered by the adoption of a new FASB accounting rule that marks crypto to fair market value—sparked legal action from shareholders.

A federal lawsuit filed by investor Abhey Parmar accuses executive chairman Michael Saylor, CEO Phong Le, CFO Andrew Kang, and four board members of:

• Failing to disclose the full implications of the FASB accounting change.
• Misleading investors on the company’s Bitcoin-driven profitability.
• Engaging in insider trading by offloading $31.5 million in shares before losses were disclosed.

A separate proposed class-action lawsuit, filed by investor Anas Hamza, also alleges the company misrepresented its financial health under the new accounting rules and failed to warn about Bitcoin’s inherent volatility.

Despite this legal turbulence, Saylor continues to double down on his bullish outlook. On X (formerly Twitter), he recently posted: “Nothing Stops This Orange”, a message typically seen before new BTC buys. He also forecasted—without elaboration—that Bitcoin could reach $21 million per coin in 21 years.

Cardone Capital Merges Real Estate and Bitcoin Exposure

Real estate magnate Grant Cardone announced a dramatic turn toward Bitcoin with his firm Cardone Capital acquiring 1,000 BTC, making it the first major real estate investment trust to combine traditional property assets with a significant crypto treasury.

Cardone Capital, which manages a $5.1 billion portfolio, now plans to add 3,000 more BTC and develop 5,000 new real estate units by year’s end. This move introduces a hybrid model aimed at integrating Bitcoin into hard-asset investment strategies, with Cardone positioning the firm as a first-of-its-kind player in the evolving institutional crypto space.

Michael Saylor publicly congratulated Cardone for this leap, calling it a significant milestone in Bitcoin’s institutional adoption.

A Broader Institutional Shift: Global Players Join the Wave

The June rally isn’t limited to the usual corporate crypto suspects. Institutions around the world are jumping in, fueling a geographically diverse buying wave:

• Prenetics, a healthcare firm, allocated $20 million to buy 187.42 BTC.
• Norway’s K33 is targeting 1,000 BTC through a $9 million share issuance.
• The UK-listed Smarter Web Company increased its Bitcoin holdings by 45.32 BTC, reaching a total of 168.08 BTC.

The number of publicly traded companies holding Bitcoin has surged to 132, up from 89 in April, with total combined holdings now exceeding 800,000 BTC—worth over $88 billion.

A Defining Moment for Bitcoin’s Corporate Narrative

Bitcoin’s recent pullback to under $98,500, its lowest in six weeks, following geopolitical unrest, has not deterred buyers. Instead, it’s served as a buying opportunity for long-term strategic investors.

While price volatility and accounting rules continue to stir legal and regulatory challenges, the June 2025 Bitcoin acquisition spree marks a historic turning point in institutional adoption. Companies across continents and industries are not only embracing Bitcoin as a treasury asset—they’re integrating it into their core business models.

As traditional and alternative investment strategies begin to converge, Bitcoin is solidifying its role as a long-term corporate reserve asset, not just a speculative tool. The sheer scale and diversity of corporate participation in June may well signal a lasting structural shift in how public companies manage their balance sheets in the digital age.