Metaplanet continues to expand its Bitcoin assets with another significant acquisition. The latest transaction highlights the growing interest of major corporations in cryptocurrencies.
Bitcoin Acquisition
According to an official announcement made on Monday, Metaplanet acquired 2,204 Bitcoin for $237 million. The average purchase price was 15,640,253 Japanese yen per Bitcoin, equivalent to about $107,700. Following this acquisition, the company's total holdings stand at 15,555 BTC with an average purchase price of 14,517,416 yen per coin, or approximately $99,985.
Metaplanet in Corporate Holdings Context
Metaplanet is currently the fifth-largest corporate holder of Bitcoin. Recently it surpassed Tesla in terms of holdings after increasing its total to 12,345 BTC by acquiring 1,234 BTC in late June, with Tesla holding 11,509 BTC.
Future of Bitcoin Treasury Strategies
Some analysts, including James Check from Glassnode, have commented that the Bitcoin treasury strategy may not have the longevity many expect. He noted that future entrants might face challenges due to market saturation. 'For many new entrants, it could already be over,' he added.
Metaplanet demonstrates a growing interest in Bitcoin, continuing to increase its assets. However, as analysts suggest, the prospects for such strategies may be limited.
