Metaplanet invested $237 million to acquire 2,204 bitcoins, bringing its total holdings to 15,555 BTC.

CN
12 hours ago

Japan's leading corporate Bitcoin asset company Metaplanet recently purchased 2,204 Bitcoins for $237 million.

According to documents submitted by the company on Monday (July 7), Metaplanet increased its holdings by 2,204 BTC at an average price of 15,647,253 yen (approximately $107,700) per Bitcoin. As of now, Metaplanet has accumulated a total of 15,555 BTC, with an average purchase cost of 14,517,416 yen (approximately $99,985) per Bitcoin.

According to data from BitcoinTreasuries.NET, Metaplanet has now become the fifth largest corporate holder of Bitcoin globally. At the end of June, the company increased its holdings to 12,345 BTC by acquiring 1,234 BTC, surpassing electric vehicle manufacturer Tesla's 11,509 BTC for the first time.

Additionally, Metaplanet also purchased 1,005 BTC for $108 million (disclosed on June 30), bringing its holdings above Bitcoin mining company CleanSpark's 12,502 BTC.

Before this announcement, the world's largest corporate Bitcoin holder, Strategy, announced on June 30 that it had increased its holdings by 4,980 Bitcoins, totaling $531.1 million. After this increase, the company holds a total of 597,325 Bitcoins, with a cumulative purchase amount of approximately $42.4 billion and an average purchase price of $70,982 per Bitcoin.

Cryptocurrency entrepreneur Anthony Pompliano's company ProCap also made its first purchase of 3,724 Bitcoins at the end of June, with a total transaction amount of $386 million. Medical technology company Semler Scientific announced last month its plan to increase its Bitcoin holdings from 3,808 to 105,000 Bitcoins.

Glassnode's chief analyst James Check stated on Saturday (July 5) that corporate Bitcoin allocation strategies may not be as long-lasting as expected. He pointed out that new entrants to the field may have already missed the most significant profit phase.

"For many newcomers, the opportunity may have already ended," he explained, emphasizing the importance of the sustainability of corporate products and Bitcoin accumulation strategies. He noted that investors prefer early movers, stating, "No one will pay attention to the 50th 'Bitcoin asset company.'"

At the end of June, a report released by venture capital firm Breed expressed a similar viewpoint. The report suggested that only a few Bitcoin corporate asset companies can avoid falling into a "death spiral."

Related: Turkish authorities block PancakeSwap in crackdown on crypto websites

Original article: “Metaplanet spends $237 million to acquire 2,204 Bitcoins, total holdings reach 15,555 BTC”

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