Bitcoin Buying Sprees Accelerate As Metaplanet, Smarter Web Boost BTC Reserves With Roughly $100 Million Purchases
Main Idea
Publicly traded firms Metaplanet and Smarter Web have significantly increased their Bitcoin holdings, following a strategy similar to Michael Saylor's MicroStrategy, as Bitcoin prices approach all-time highs.
Key Points
1. Metaplanet purchased 518 Bitcoin for $61.4 million, averaging $118,519 per coin, bringing its total holdings to 18,113 BTC worth $2.15 billion.
2. Metaplanet now ranks sixth globally among corporate Bitcoin holders, with an average purchase price of $101,911 per Bitcoin for its total stash.
3. Smarter Web Company acquired 295 BTC for £26.3 million ($35.2 million) at an average price of $119,412 per coin, increasing its total holdings to 2,395 BTC.
4. Both companies emulate MicroStrategy's strategy, focusing on BTC Yield as a key performance indicator, with Smarter Web achieving a yield of 55,069% and 76% over the last 30 days.
5. Bitcoin's price is up 1.6% in the past 24 hours, trading at $120,404, just 2% below its all-time high of $122,838.
Description
Publicly traded firms Metaplanet and Smarter Web both announced on Tuesday that they had bought more Bitcoin, adding to their already huge holdings.
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