Metaplanet made a significant acquisition, buying 103 Bitcoin for $11.6 million, which strengthens its position among major holders of this cryptocurrency.
Successful Purchase by Metaplanet
A recent filing by Metaplanet confirmed the purchase of 103 BTC at an average price of $113,491 per coin, totaling ¥1.74 billion ($11.6 million). This increases the company’s total holdings to 18,991 BTC, worth approximately $1.95 billion, with an average purchase price of $102,712.
Michael Saylor's Strategy
This acquisition occurred just days after Strategy, led by Michael Saylor, announced a purchase of 430 BTC worth $51.4 million, increasing its total stash to 629,376 BTC, nearly 3% of all Bitcoin in circulation. Saylor highlighted that Bitcoin is 'on sale,' seen as a signal for further accumulation.
Market Impact and Investor Sentiment
News of the acquisition saw Metaplanet’s shares rise by more than 4% to 878 yen, extending a strong run for the stock. Bitcoin itself, however, remained largely stable, hovering near $112,000 after briefly slipping to $110,000 over the weekend.
The acquisition by Metaplanet highlights the growing interest of institutional investors in Bitcoin, affirming a profitable accumulation strategy.
