On Monday, Metaplanet bought 463 bitcoins, becoming the first public company in August to take advantage of the 5% decline in bitcoin.
The Japanese investment firm purchased these bitcoins for 8 billion yen (approximately $53.7 million), with an average purchase price of around $116,000, Metaplanet stated in a statement on Monday.
This purchase brought Metaplanet's bitcoin holdings to 17,595 bitcoins, with a total value exceeding $2 billion, maintaining its position as the seventh largest bitcoin corporate holder globally.
In the last week of June, 16 companies collectively added over $7.8 billion in cryptocurrency to their assets.
Metaplanet remains focused on its bitcoin goals, planning to hold 210,000 bitcoins by 2027, equivalent to 1% of the total supply.
Metaplanet followed Saylor's strategy by raising approximately $3.73 billion through the issuance of perpetual preferred stock to enhance its bitcoin reserves.
Currently, Metaplanet ranks behind companies like Mara Holdings and XXI in the bitcoin accumulation race, but as more companies join the ranks of bitcoin holders, the corporate holding landscape for bitcoin is changing.
