Metaplanet buys 2,823 BTC, surpasses 43,000 in Bitcoin holdings
Japanese investment company Metaplanet acquired 2,823 Bitcoin during the second quarter at a price below its average purchase price, as its holdings surpassed 43,000 BTC. The company acquired its latest trove at an average price of about 12.71 million yen ($78,850 at current exchange rates), reducing its average acquisition cost to about $95,117 per BTC from $96,258, according to a Thursday announcement. Metaplanet now holds 43,000 Bitcoin acquired for about $4.1 billion. It also reported about $10.95 million in revenue from its Bitcoin income generation strategy in the quarter, which earns premiums by selling cash-secured options and employing other Bitcoin-related yield strategies. The purchase extends Metaplanets aggressive accumulation strategy, which has made the company one of the worlds largest corporate Bitcoin holders. The acquisition comes days after Michael Saylors Strategy, the worlds largest corporate Bitcoin holder, skipped its usual weekly Bitcoin purchase while unveiling a new capital framework designed to support dividends and expand its cash reserves.Metaplanet Notice of Additional Bitcoin Purchase. Source: Metaplanet Metaplanet shares closed 3.5% higher on Thursday but remain down 48% year-to-date, underperforming Bitcoin, which has fallen 31% over the same period. K Wave latest company to exit Bitcoin treasury strategy While companies such as Metaplanet continue buying more Bitcoin, a handful