Metaplanet is Japan’s largest corporate Bitcoin Treasury company. It has purchased another 2,204 Bitcoins for $237 Million.
The aforementioned is a filing On Monday, the company announced that it had acquired 2,204 additional Bitcoins (BTCThe total amount of BTC held by Metaplanet is 15,555, at an average cost per coin of 14,518,416 Japanese yen, approximately $107,000. Metaplanet has now acquired 15,555 BTC with an average of $14,517,416 per coin.
According to BitcoinTreasuries.NET dataMetaplanet currently holds the 5th largest amount of Bitcoin among corporations. The company overtook the holdings of electric vehicle manufacturer Tesla Tesla holds 11,509 BTC.
It is to be noted that the company has also exceeded Bitcoin miner CleanSpark’s holdings On June 30, the company disclosed that it had purchased 12,502 BTC, along with 1,005 BTC valued at $108,000,000.
Related: Bitcoin Treasury Corporation to relist on Toronto exchange, buys 292 BTC
The corporate Bitcoin treasuries continue to grow
This announcement is followed by world’s top corporate Bitcoin holder, StrategyAnnouncement of the purchase by another 4,980 Bitcoin for $531.1 million On June 30, it made its most recent purchase. This acquisition increased the company’s total holdings of BTC to 597.325 BTC. It was purchased at an average cost of $70,00982 per coin, for around $42.4 billion.
Anthony Pompliano, the crypto entrepreneur’s company ProCap also made its first Bitcoin purchase Semler Scientific purchased 3,724 BTC in late June for $386,000,000. Semler Scientific, a healthcare tech company, also revealed last month its plans to raise its Bitcoin holdings by 3,808 Bitcoin to 105,000 Bitcoin.
Related: Bitcoin as corporate treasury: Why Meta, Amazon and Microsoft all said no
James Check, Glassnode’s chief analyst, said on Saturday that Glassnode’s newest product Glassnode was a good choice. Bitcoin treasury strategy may not have the longevity Many expect. Check suggested that new businesses entering the market may be able to reap the benefits of easy growth.
“For many new entrants, it could already be over,” He said that what matters is the sustainability of a business’s strategy and product for Bitcoin acquisition. Investors are more likely to favor those who adopt early. “nobody wants the 50th Treasury company.”
Breed’s report, released in June, also echoed the sentiment. According to this firm, there are only two major players in the market. few Bitcoin treasury companies will avoid falling into a “death spiral.”
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Source: cointelegraph.com
