Metaplanet bought another 463 Bitcoins on Monday. It is the first company in the public sector to take advantage of the recent Bitcoin 5% drop over the weekend.
A Japanese investment company bought BitcoinBTCMetaplanet said A Monday press release was issued.
The purchase brings Metaplanet’s Bitcoin holdings to 17,595 Bitcoin — worth over $2 billion — maintaining its position as the world’s seventh largest corporate Bitcoin holder.
Metaplanet is the first company in public to publicly announce that it will be buying Bitcoin. AugustThis comes after a week that saw a lot of crypto purchases by corporations.
Cointelegraph discovered that 16 companies collectively increased their revenues by over $7.8 billion worth of crypto Last week in July, the Treasury Department will distribute funds to all treasuries.
The performance of spot US Bitcoin E-Traded Products also performed well in July but saw $812.3 million worth of outflows to start August — one of its biggest outflow days in history.
Metaplanet continues to focus on Bitcoin as its goal
Metaplanet has made a purchase that reflects their intention to accumulate Bitcoin at a rapid pace in spite of recent fluctuations. macroeconomic indicators Forecasting possible future challenges
Simon Gerovich’s firm has now reached 8.4% of its overall target. 210,000 Bitcoin — equivalent to 1% of the total supply — by the end of 2027.
Metaplanet follows Saylor’s strategy once again
Metaplanet has announced that it will be issuing around $3.73 Billion worth of shares on Friday. perpetual preferred shares — a financial instrument that has been aggressively used by Michael Saylor’s Strategy to bolster its Bitcoin holdings above 628,700 BTC.
Saylor even referred STRC ticker is one of Strategy’s preferred shares. “iPhone moment” After it was raised $2.5 billion worth of funds For the company
Related: Crypto adoption in 2025 spurred by payments, AI: Survey
Companies like Strategy and Metaplanet can use perpetual preferred offerings to raise long-term funds for Bitcoin purchases, without having their stock diluted or taking on debt.
Metaplanet’s preferential stock may offer an annual dividend up to 6 percent, depending upon market conditions and investor demands.
Bitcoin racing gets more competitive as public companies join the race
Metaplanet trails Strategy Holdings (Bitcoin Standard Treasury Company), Mara Holdings (XXI), Riot Platforms (Riot Platforms) and Trump Media as far as Bitcoin accumulation is concerned. according to BitcoinTreasuries.NET data.
Meanwhile, more Bitcoin companies are emerging, with 162 companies holding Bitcoin on their balance sheets — up from 112 On May 26,
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Source: cointelegraph.com
