Metaplanet Possibly Expands Bitcoin Holdings Amid Market Dip, Following Corporate Accumulation Trends
Main Idea
Metaplanet increased its Bitcoin holdings by purchasing 463 BTC during August's market dip, reinforcing its strategy to accumulate 210,000 BTC by 2027 and positioning itself as a major corporate Bitcoin holder.
Key Points
1. Metaplanet acquired 463 BTC for $53.7 million at an average price of $115,895 per coin during August's market dip.
2. The firm now holds 17,595 BTC, making it the seventh-largest corporate Bitcoin holder globally.
3. Metaplanet aims to accumulate 210,000 BTC (1% of total supply) by 2027, with 8.4% of the target already achieved.
4. The company plans to issue $3.73 billion in perpetual preferred shares to fund further Bitcoin purchases, following a strategy similar to MicroStrategy.
5. Corporate Bitcoin adoption is growing, with the number of public companies holding BTC increasing from 112 to 162 since late May.
Description
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