Strategy and Metaplanet Stick With Bitcoin Scarcity

Strategy and Metaplanet keep accumulating BTC and point to the fixed supply of 21 million coins. Their view frames Bitcoin as a macro asset, separate from short-term price moves.

Key Takeaways

• Strategy and Metaplanet continue to see Bitcoin as a scarce monetary asset, separate from this week's price swings.
• Metaplanet CEO Simon Gerovich points to record growth in the global M2 money supply and calls Bitcoin's fixed supply of 21 million crucial.
• Strategy holds 840,447 BTC and Metaplanet 43,000 BTC, making both companies among the largest public Bitcoin holders in the world.

Bitcoin has been trading in a tight range for days, but two of the biggest corporate holders of the coin are not letting that distract them. Strategy and Metaplanet are still backing the idea that Bitcoin is mainly about fixed scarcity and monetary policy, not this week's price action.

Scarcity Over Price

Simon Gerovich, CEO of Metaplanet, pointed on Sunday to the global M2 money supply, which he said has hit a record of more than $100 trillion (€86.5 trillion). He sees that as a long-term tailwind for Bitcoin, precisely because the coin cannot be printed along with fiat money.

Gerovich said Bitcoin has become disconnected from broader liquidity over the past year, while the supply schedule remains unchanged. The maximum issuance of 21 million BTC is, in his view, exactly the core of the investment case: if money supplies keep growing, scarcity itself becomes the most important asset.

That logic fits the way Bitcoin is built into the protocol. The 21 million coin limit is hardcoded, while the halving cuts the miner reward roughly every four years and slows the flow of new BTC. By now, an estimated nearly 20 million BTC have been mined, while the final part of the supply will only be released in the next century.

Strategy and Metaplanet Keep Buying

Michael Saylor, executive chairman of Strategy, put the same idea another way. According to him, you first have to understand what money is in order to understand Bitcoin. He called Bitcoin “digital monetary energy” and said the supply cannot be expanded arbitrarily.

The two companies are among the largest public Bitcoin holders in the world. Strategy holds 840,447 BTC, worth about $53 billion (€45.8 billion), making it the largest publicly traded Bitcoin holder. Tokyo-listed Metaplanet holds 43,000 BTC worth about $2.7 billion (€2.3 billion), putting it in third place, according to Bitcoin Treasuries.

Why This Still Matters

For European crypto followers, the main point is that this debate shows how strongly Bitcoin is still being viewed as a macro asset rather than just a trading coin. The price may temporarily move away from liquidity growth, but large treasury companies keep basing their case on scarcity, monetary policy, and the long term. That makes the current phase interesting for investors who mainly follow Bitcoin as part of broader money flows and institutional allocation.

That debate is still going on outside corporate balance sheets too. Fidelity director Jurrier Timmer said he expects Bitcoin could eventually catch up if gold regains momentum, although that still depends on broader market moves. So the question is not just where Bitcoin stands today, but more importantly which story the market will give the most weight to over the long run.

Meanwhile, the broader market still shows that institutional demand remains a factor: ETF inflows recently picked up again, even in a thin and quiet market.