The Japanese company Metaplanet (MTPLF), which is publicly traded, recently surpassed Elon Musk's Tesla Holdings by purchasing an additional 1,234 bitcoins in the open market.
As a result, it rose from tenth place two weeks ago to seventh, surpassing giants like Coinbase, Block Inc., the bitcoin mining company Hut 8, and now, Tesla.
This aggressive BTC purchase comes a day after the company announced a fundraising of 5 billion dollars for its U.S. subsidiary.
In two weeks, Metaplanet has surpassed Coinbase, Block Inc, Hut 8, and Tesla in Bitcoin holdings.
The Japanese firm now owns 12,345 BTC at an average purchase price of $ 97,036.
Metaplanet's recent Bitcoin purchase helped stabilize its stock price at 1,560 JPY.
Follow me for more analysis and news, give it a 👍 , that would help me a lot to keep growing.