Corporate Bitcoin Holdings: Metaplanet Increases Treasury with $237M Acquisition

Japan-based corporate Bitcoin treasury company Metaplanet announced today the acquisition of an additional 2,204 Bitcoin at an average price of approximately $107,700.

Incorporating this purchase, Metaplanet’s total Bitcoin holdings now stand at 15,555 BTC, acquired at an average cost of about $99,985 per coin. The transaction cost a total of $237 million, bringing the company’s cash outlay closer to its reported assets.

“Corporate Bitcoin treasuries keep growing,” noted analysts this week, highlighting a trend of increasing institutional investment.

Earlier this year, Metaplanet surpassed Tesla (currently holding an estimated 11,509 BTC) and CleanSpark (12,502 BTC) to become the fifth largest corporate holder, solidifying its position in the rapidly expanding Bitcoin treasury sector.

Huge Accumulation by Top Holders

The trend of large corporate Bitcoin acquisitions continues. Strategy, the world’s largest corporate Bitcoin holder, recently purchased another 4,980 BTC for $531.1 million, bringing its massive holdings to 597,325 BTC.

This accumulation reflects a strategy that some market analysts are questioning. Glassnode’s lead analyst James Check recently suggested the easy upside potential of Bitcoin treasuries might be behind us. He argued that sustainability is key for these companies.

“For many new entrants, it could already be over,” Check commented, adding that investors favor “early adopters” rather than those buying later in the cycle.

Relatedly, crypto entrepreneur Anthony Pompliano’s firm ProCap made its initial purchase earlier this year, while Healthcare tech giant Ortho Kinincorp announced a significant expansion of its treasury.

Fear of a potential “death spiral” has also prompted venture capital firm Breed to warn that only a handful of Bitcoin treasury companies will endure.

Tech Giants Considers Entry

Related: Porsche Counting On Record-Breaking Support From Cryptocurrency.