Strategy edges closer to 600K BTC as major players intensify Bitcoin buys

Institutional Bitcoin accumulation shows nary signs of slowing arsenic Strategy and Metaplanet purchased adjacent to 6,000 BTC past week, continuing their aggressive acquisition strategies.

According to their abstracted announcements connected June 30, the 2 companies acquired 5,985 BTC, investing astir $640 cardinal successful the process.

Strategy moves person to 600K BTC

Strategy, the largest firm holder of Bitcoin, added 4,980 BTC for $531.1 million, according to a June 30 filing with the US Securities and Exchange Commission (SEC).

This brings its full holdings to 597,325 BTC, present valued astatine implicit $64 billion. The mean acquisition terms is $70,982 per Bitcoin, with full acquisition costs amounting to $42.4 billion.

Following this purchase, Strategy is present little than 3,000 BTC distant from surpassing the 600,000 BTC mark.

Strategy said it sold 1.3 cardinal MSTR shares past week to money the purchase, raising astir $519.5 million. It added that it inactive has astir $18 cardinal worthy of MSTR shares to concern aboriginal BTC acquisitions.

Meanwhile, this marks the archetypal clip successful implicit 3 weeks that Strategy utilized its MSTR equity issuance programme to money Bitcoin purchases.

Commenting connected the timing, Bitcoin expert Michael Sullivan described the determination arsenic “tactical,” noting that:

“This was arguably the astir important week Saylor’s ever had to marque definite the Bitcoin terms stayed elevated…. So naturally, they utilized the MSTR ATM. Some short-term driblet successful stock terms is worthy the semipermanent net and guaranteed S&P qualification.”

The Michael Saylor-led institution besides sold further shares from its perpetual preferred banal offerings, including 276,071 STRK shares for $28.9 cardinal and 284,225 STRF shares for $29.7 million.

Metaplanet adds 10,000 BTC successful 3 months

According to a June 30 statement, the Japan-based Metaplanet is present the fifth-largest nationalist Bitcoin holder pursuing its acquisition of 1,005 BTC for $108 million.

The acquisition propelled its full holdings to 13,350 BTC, which were purchased astatine an mean terms of $97,832 for a full concern of $1.31 billion.

Metaplanet CEO Simon Gerovich highlighted the company’s accelerated expansion, pointing retired that the steadfast held conscionable 3,350 BTC 3 months ago. He said:

“Now, we’ve added 10,000 much to scope 13,350 BTC.”

Japan’s Tokyo Stock Exchange has responded to Metaplanet’s increasing credibility by announcing the removal of borderline trading restrictions connected the company’s stock, effectual July 1.

Since adopting a Bitcoin-centric treasury strategy successful 2024, Metaplanet’s banal has surged by much than 8,000%, showing beardown capitalist enactment for its assertive crypto positioning.

The station Strategy edges person to 600K BTC arsenic large players intensify Bitcoin buys appeared archetypal connected CryptoSlate.