Metaplanet continued its BTC purchasing spree, adding 797 coins to its holdings, making it the fifth largest treasury.
Recent Purchases by Metaplanet
Last week, as BTC prices reached new highs, Metaplanet added another 797 BTC to its total, bringing it to 16,352 BTC. This makes Metaplanet the fifth largest treasury company, surpassing Galaxy Digital. The latest purchase significantly outstrips the previous one, which amounted to only 116 BTC.
Company's Acquisition Approach
Metaplanet follows a strategy of consistent asset accumulation, making its purchases transparent. Most of the BTC is held in one known address, containing 15,555 BTC. The latest purchases were made using the BitFlyer exchange and included direct deposits from Coinbase Prime as well as acquisitions from QCP Capital. The recent purchase was made at an average price of $117,451 per BTC.
Impact of Treasury Companies on the Market
Treasury companies, including Metaplanet, significantly influence the BTC market, holding 3.5 million BTC, which corresponds to 3.67% of the total available coins. These companies actively absorb the newly mined supply and seek to accumulate BTC reserves. Metaplanet alone acquires around 32% of the daily BTC supply, thereby strengthening its market position.
Metaplanet's acquisitions highlight the active role of treasury companies in shaping the BTC market. These companies continue to increase their holdings amid rising cryptocurrency prices.
