The Smarter Web Company in the United Kingdom and Japan’s Metaplanet, both publicly-listed companies, have added Bitcoin worth almost $100,000,000 to their corporate treasurers.
Metaplanet is back on Tuesday. disclosed The company purchased 518 Bitcoins.BTCThe company purchased the coins for approximately $61.4 million, at an average of $118.519 each. The purchase brought the Tokyo-listed firm’s total Bitcoins up to 18,113 BTC. That is about $2.15 Billion at current exchange rates, acquired for an average of $118,519 per Bitcoin.
Led by CEO Simon Gerovich, Metaplanet now ranks sixth globally in public company Bitcoin holdings, behind Michael Saylor’s Strategy, MARA, XXI, Bitcoin Standard Treasury Company, and Riot, according to data from BitcoinTreasuries.NET.
Metaplanet announced earlier in the month that it had plans to purchase a new Metaplanet. raise up to 555 billion Japanese yen ($3.7 billion) Through offering perpetual preferential shares, the company supports its acquisition strategy.
Related: Strategy adds $18M in Bitcoin on fifth anniversary of BTC strategy
Smarter Web Company buys 295 BTC
Smarter Web Company is a London listed web design firm and Bitcoin Treasury. revealed The company announced on Tuesday it had acquired 295 BTC worth 26.3 Million Pounds ($35.2 Million) for an average cost of $119.412.
A $10.2m equity raise that was completed on Monday helped fund the purchase. The Smarter Web Company was also reported to have purchased the property. raised $21 million through a Bitcoin-denominated Last week, bonds were offered.
Smarter Web now has 2,395 BTC total, bought at an average price of $110 555 per BTC for a cost total of $264.8 millions. At the current price, the stockpile is valued at approximately $284.8million, giving Smarter Web an unrealized profit of $20 million.
Smarter Web, which has bought more than 1,500 BTC in just July, is now ranked 23rd in global rankings of public companies. It is aiming to reach the top 20 in the next few weeks.
Related: Bitcoin Treasury Model Faces Collapse — Strategy Stands Strong
US to nationalize Bitcoin
Crypto corporate treasuries have crossed the $100 billion markBitcoin treasury firms held almost 4% (or 791662 BTC) of the total supply in July. Analysts have cautioned that the concentration of corporate assets could lead to a vulnerable central point for Bitcoin.
Willy Woo, a crypto analyst from the US, suggested that US could one day move to nationalize these holdingsThe gold standard was abandoned in 1971. Woo suggested that government may centralize Bitcoin corporate reserves. “rug” The same way that President Richard Nixon suspended the gold convertibility.
Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0′
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
