Metaplanet Acquires 1,234 BTC, Exceeding Tesla’s Holdings
Metaplanet, a major corporate Bitcoin investor in Japan, has acquired an additional 1,234 BTC, increasing its total holdings to 12,345 BTC. This surpasses Tesla's Bitcoin treasury of 11,509 BTC.
Key details:
- The acquisition was made at an average price of approximately $108,000 per BTC, totaling over $133 million.
- Metaplanet is close to overtaking CleanSpark, which holds 12,502 BTC.
- It has become the seventh-largest corporate holder of Bitcoin globally.
- The company plans to inject up to 5 billion yen to expand its Bitcoin reserves further.
- On the first day of its “555 Million Plan,” Metaplanet raised over $517 million through the issuance of 54 million new shares.
Metaplanet aims to accumulate up to 201,112 BTC by 2027, requiring $21 billion at current prices to become the leading corporate holder.
Bitcoin Market Update
Bitcoin is trading around $107,366, with a 14% increase in daily volume and a market capitalization of $2.13 trillion.
Market insights:
- Crypto trader Merlijn noted a recurring four-year pattern of three years of gains followed by a correction year, indicating a potential final explosive phase for Bitcoin.
- Despite macroeconomic uncertainties, Bitcoin has maintained above the $100K mark since May.
- Sentiment remains bullish, with expectations of reaching new all-time highs soon.
A new token, Bitcoin Bull (BTCBULL), is being introduced with a presale tied to Bitcoin’s price movements, raising $7.43 million so far towards an $8.4 million goal.