Metaplanet adds 2,204 Bitcoin for $237M, now holds 15,555 BTC

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Japan’s apical firm Bitcoin treasury company, Metaplanet, has acquired different 2,204 Bitcoin for $237 million.

In a filing connected Monday, the institution said it acquired an further 2,204 Bitcoin (BTC) astatine an mean terms of 15,640,253 Japanese yen per Bitcoin, oregon astir $107,700. This brings Metaplanet’s full holdings to 15,555 BTC, with an mean acquisition terms of 14,517,416 yen per coin, oregon astir $99,985.

According to BitcoinTreasuries.NET data, Metaplanet is presently the fifth-largest firm holder of Bitcoin. The institution overtook the holdings of electrical conveyance shaper Tesla successful precocious June with an acquisition of 1,234 BTC, bringing its full holdings to 12,345 BTC, with Tesla holding 11,509 BTC.

The institution besides exceeded Bitcoin miner CleanSpark’s holdings of 12,502 BTC with a abstracted 1,005 BTC acquisition valued astatine $108 million, disclosed connected June 30.

Corporate Bitcoin treasuries support growing

The announcement follows the world’s apical firm Bitcoin holder, Strategy, announcing the acquisition of different 4,980 Bitcoin for $531.1 million connected June 30 successful its latest buy. That acquisition brought the firm’s holdings to 597,325 BTC, purchased for astir $42.4 cardinal astatine an mean terms of $70,982 per coin.

Crypto entrepreneur Anthony Pompliano’s steadfast ProCap besides made its archetypal Bitcoin purchase of 3,724 BTC for $386 cardinal successful precocious June. Healthcare tech steadfast Semler Scientific besides announced past period that it plans to summation its holdings from 3,808 Bitcoin to 105,000 Bitcoin.

Glassnode pb expert James Check suggested connected Saturday that the Bitcoin treasury strategy whitethorn not person the longevity galore expect. Check said the casual upside whitethorn already beryllium down caller companies entering the space.

“For galore caller entrants, it could already beryllium over,” helium said, explaining that the crux is however sustainable a company’s merchandise and strategy for Bitcoin accumulation are. He highlighted that investors favour the aboriginal adopter and “nobody wants the 50th Treasury company.”

In precocious June, a study from task superior steadfast Breed besides showed the aforesaid sentiment. According to the firm, lone a few Bitcoin treasury companies volition debar falling into a “death spiral.”

Magazine: Arthur Hayes doesn’t attraction erstwhile his Bitcoin predictions are wholly wrong

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