Metaplanet and Smarter Web Company Invest Nearly $100 Million in Bitcoin
- Metaplanet purchased 518 Bitcoin for approximately $61.4 million at an average price of $118,519 per coin.
- This acquisition increased Metaplanet’s total holdings to 18,113 BTC, valued at about $2.15 billion.
- The Smarter Web Company acquired 295 BTC for £26.3 million ($35.2 million) at an average price of $119,412 per coin.
- Smarter Web’s total Bitcoin holdings now stand at 2,395 BTC, with an unrealized gain of around $20 million.
- Corporate crypto treasuries have surpassed the $100 billion mark, holding a total of approximately 791,662 BTC as of July.
The recent investments by Metaplanet and The Smarter Web Company highlight the increasing trend of corporate adoption in the cryptocurrency space, particularly in Bitcoin. As companies accumulate significant amounts of Bitcoin, concerns regarding asset concentration and potential vulnerabilities are also rising among analysts.
Metaplanet’s new purchase brings its total to over $2 billion in Bitcoin holdings while The Smarter Web Company’s investments have positioned it among the top public companies globally with substantial crypto assets.(Source)
