Metaplanet outpaces Strategy with significant Bitcoin acquisition despite share slump
Japan-based Metaplanet aggressively expanded its Bitcoin holdings final week, buying greater than six instances the quantity bought by Michael Saylor’s Strategy (formerly MicroStrategy) throughout the identical interval.
Metaplanet revealed on Sept. 22 that it purchased 5,419 BTC for roughly $632.5 million, paying a median of $116,724 per coin.
This buy pushed Metaplanet into the fifth spot amongst publicly identified company Bitcoin holders because it now controls 25,555 BTC. The holdings have been amassed at a cumulative value of $2.71 billion, which is a median entry value of $106,065.
Strategy, by comparability, accumulated 850 BTC throughout the identical interval, spending slightly below $100 million at $117,344 per coin. That addition introduced its complete stash to 639,835 BTC, bought at a median of $73,971 per Bitcoin.
Meanwhile, each corporations’ aggressive acquisitions got here as Bitcoin’s price briefly dropped to $112,000 earlier at the moment. This highlights how volatility stays a continuing backdrop to company accumulation of the flagship digital asset.
Despite this drop, BTC has risen about 6% previously three months, whereas the identical can’t be mentioned for the shares of the Bitcoin-focused corporations.
According to Strategy Tracker data, fairness buyers have been far much less captivated with these companies’ shares. Metaplanet’s shares have dropped 63% within the final three months, whereas Strategy’s stock has slipped 10%.
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