Despite the volatile price performance of Bitcoin, corporate demand for the cryptocurrency remains strong. In late August, both Strategy and Metaplanet increased their holdings, signaling a continued interest in Bitcoin among institutional investors.
On August 25, Strategy and Metaplanet announced their acquisition of over 3,100 BTC, highlighting how institutional treasuries impact market liquidity by reducing the available supply.
Strategy’s Significant Purchase in August
Strategy, known as the largest corporate holder of Bitcoin, confirmed on August 25 that it bought 3,081 BTC for $356.9 million. The average purchase price per coin was $115,829, funded by recent stock sales and preferred share offerings.
This acquisition increased Strategy’s total BTC holdings to 632,457, acquired at a cost of approximately $46.5 billion. The average purchase price per Bitcoin now stands at $73,527, with the current market value at nearly $70.56 billion, resulting in a profit margin of around 51.7%.
This purchase marked Strategy’s most significant buy of the month, following smaller acquisitions earlier in August. The company continues to steadily build reserves amidst market volatility, with a year-to-date yield of 25.4%.
Metaplanet’s Addition and FTSE Japan Index Inclusion
Metaplanet, based in Tokyo and known for its aggressive treasury strategy similar to Strategy, disclosed the acquisition of 103 BTC for around ¥1.736 billion ($11.8 million). The average purchase price per BTC was ¥16.86 million.
With this purchase, Metaplanet’s BTC reserves rose to 18,991, acquired at a total cost exceeding $1.9 billion. The current market value is approximately $2.12 billion, with a profit margin close to 9%.
The announcement coincided with Metaplanet’s inclusion in the FTSE Japan Index. CEO Simon Gerovich expressed their milestone achievement in a post, highlighting the company’s position as Japan’s leading Bitcoin treasury company.
The FTSE Japan Index recognizes the performance of medium- and large-capitalization companies listed on Japanese exchanges. Metaplanet’s upgrade to mid-cap status reflects its growth and success in the Bitcoin market.
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