Advertisement
Metaplanet Cranks Up Bitcoin-Buying, Now Holds More Than 15,555 BTC
- Metaplanet added 2,205 BTC for US$238.7M, raising its total to 15,555 BTC at an average price of US$108,237, ranking fifth among public Bitcoin holders.
- The move follows Strategy’s 4,980 BTC buy, pushing its stash to over 597,000 BTC, while others like ProCap and Semler Scientific ramp up corporate Bitcoin bets.
- Critics like Scaramucci and Breed VC warn the corporate Bitcoin buying spree could fade fast if firms lack strong core businesses to sustain such treasury plays.
Metaplanet, the Japanese version of Strategy, has added another 2,205 Bitcoin (BTC) to its reserves, spending about US$238.7M (AU$366M) to expand its bitcoin stash as part of its aggressive accumulation plan.
The Tokyo-based firm now holds 15,555 BTC in total, according to its latest filing. CEO Simon Gerovich confirmed the new average buy price was around US$108,237 (AU$166,165) per coin.
That keeps Metaplanet firmly in fifth place among public companies with the biggest bitcoin holdings, behind giants like MicroStrategy, which tops the list with over 597,000 BTC, data from Bitcointreasuries.net shows.
Metaplanet Keeps on Stacking BTC
Metaplanet’s fresh BTC grab comes right after Strategy, the biggest corporate Bitcoin holder in the world, added another 4,980 coins for US$531.1M (AU$818M), pushing its stash to 597,325 BTC. Strategy’s total spend so far is around US$42.4B (AU$64B), with an average price of just under US$71K (AU$109K) per coin.
Others are piling in too. Anthony Pompliano’s ProCap made its first move in late June, scooping up 3,724 BTC for US$386M (AU$594M). Healthcare firm Semler Scientific is going even bigger, outlining plans to jump from 3,808 BTC now to a massive 105,000 BTC target.
Not everyone’s convinced this corporate Bitcoin rush has staying power. Anthony Scaramucci has recently referred to this wave of corporations adding BItcoin to its treasuries as just a short-lived fad.
Breed VC echoed that line last month, warning in a report that most firms chasing Bitcoin as a treasury strategy could slip into a “death spiral” without a solid core business to back the bet.
Related. Robust June Jobs Report Fuels Bullish Bitcoin Rally Toward $200K, Says 21Shares
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
