The Smarter Web Company and Metaplanet of Japan, two publicly traded companies in Japan, each added nearly $100 million to their corporate funds.
Metaplanet is back on Tuesday. disclosed The company purchased 518 Bitcoins.BTC(about $61.4million) at an average price per coin of $118.519 This purchase increased the total Bitcoin holdings of Tokyo listed company to 18,113 BTC. At current prices this is worth approximately $2.15 Billion. Each Bitcoin was purchased at an average price of $101,911 each.
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 purchases 295 BTC
Smarter Web Company is a London listed web design firm and Bitcoin Treasury. revealed On Tuesday, it announced that 295 BTC were acquired for approximately 35.2 million pounds (26.3 million dollars) or an average price 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 Bond offering was last week.
Smarter Web has now acquired 2,395 BTC at an estimated cost of $264.8 Million. Each BTC was purchased for $110,555 on average. The stash, at current prices, is worth about $284.8 millions, which gives the company a gain that has not yet been realized of around $20 million.
Smarter Web, which has bought more than 1,500 BTC in just July, has moved up from 36th place to 23rd in global rankings of public companies. It is now aiming for a top-20 position 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. Some analysts warn that the increasing concentration of assets into corporate hands may create a vulnerability in Bitcoin.
Willy Woo is a Crypto Analyst who suggested that the US could one day move to nationalize these holdingsThe gold standard was abandoned in 1971. Woo predicted that the government could centralize Bitcoin reserves of corporations and possibly “rug” The same way that President Richard Nixon suspended the gold convertibility.
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Source: cointelegraph.com
