Elon Musk's Tesla loses ground as Japanese rival takes the lead originally appeared on TheStreet.
As the public feud between President Donald Trump and Elon Musk escalated, Tesla's (Nasdaq: TSLA) stock dipped more than 5% to a little above $300 on July 1.
Tesla, one of the world's leading EV makers, is also among the pioneering companies in holding Bitcoin as one of the primary reserve assets on its balance sheet.
Tesla holds 11,509 BTC worth more than $1.2 billion, making it one of the largest public corporate holders of Bitcoin.
However, a Japanese company Metaplanet (TOKYO: 3350.T) beat Tesla at its own game when it announced the acquisition of 1,234 Bitcoin on June 26, bringing its total holdings to 12,345 BTC.
Metaplanet is Japan’s largest corporate holder of Bitcoin that began acquiring the king coin in April 2024.
The company's CEO, Simon Gerovich, announced on March 21, 2025, that Eric Trump, the president's son, joined its Strategic Board of Advisors.
At the time of writing, Metaplanet holds 13,350 BTC worth $1.41 billion on its balance sheet as per Bitcoin Treasuries, making it the world's fifth-largest corporate holder of Bitcoin.
Tesla, meanwhile, ranks eighth on the list.
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MicroStrategy (Nasdaq: MSTR), now known as Strategy, continues to remain the largest Bitcoin treasury company in the world. It holds 597,325 BTC worth $63.3 billion on its balance sheet.
Helmed by Michael Saylor, the company is a pioneer in adopting Bitcoin as a treasury asset and inspired several companies across the globe, such as Tesla, Metaplanet, and GameStop Corp. (NYSE: GME), to follow the same playbook.
As per Kraken, Bitcoin was trading at $106,314 at press time, down 1% a day.
Elon Musk's Tesla loses ground as Japanese rival takes the lead first appeared on TheStreet on Jul 1, 2025
This story was originally reported by TheStreet on Jul 1, 2025, where it first appeared.
