Interesting move by Metaplanet—they just activated another batch of warrants (the 27th one) as part of their aggressive BTC accumulation strategy. I've been tracking their holdings, and they're clearly going all-in on Bitcoin. Last quarter they grabbed over 5,000 BTC, which put them ahead of MARA in the rankings for publicly listed companies. Now they're sitting on around 40k BTC and pushing toward that 100k target by end of 2026. That's a pretty bold commitment. What caught my attention is how systematic Metaplanet is being about this—not just buying sporadically, but using warrants and structured capital moves to keep expanding. The fact that they're now the third-largest holder among public companies says something about how seriously they're taking Bitcoin as a core asset. Makes you wonder if other companies will follow this playbook or if Metaplanet ends up being an outlier. Either way, it's a pretty aggressive bet on where BTC is headed.