Metaplanet Acquires 463 Bitcoin Amid Market Dip
- Metaplanet purchased 463 Bitcoin for approximately $53.7 million, taking advantage of a recent market dip.
- This acquisition increased Metaplanet’s total Bitcoin holdings to 17,595 BTC, valued at over $2 billion.
- The company aims to reach a target of holding 210,000 Bitcoin by the end of 2027, representing about 1% of the total supply.
- Metaplanet plans to issue $3.73 billion in perpetual preferred shares to fund further Bitcoin purchases without incurring debt.
- Currently, Metaplanet ranks as the seventh-largest corporate holder of Bitcoin globally.
This strategic purchase aligns with a broader trend where multiple firms are increasing their cryptocurrency holdings despite market fluctuations. In July alone, companies collectively added over $7.8 billion in crypto assets to their treasuries.
With this latest buy, Metaplanet is now approximately at the halfway mark towards its ambitious goal of acquiring a significant portion of Bitcoin by the end of the decade. (Source)
