The institutional Bitcoin accumulation trend continues to gain momentum as Strategy and Metaplanet recently made significant purchases of the digital asset. Last week, these two companies acquired close to 6,000 BTC, showcasing their aggressive acquisition strategies in the cryptocurrency space.
Strategy, known as the largest corporate holder of Bitcoin, added 4,980 BTC for $531.1 million. This purchase was disclosed in a filing with the US Securities and Exchange Commission (SEC) on June 30. With this acquisition, Strategy now holds a total of 597,325 BTC, valued at over $64 billion. The average purchase price per Bitcoin was $70,982, with total acquisition costs reaching $42.4 billion. Strategy is now only a few thousand BTC away from surpassing the 600,000 BTC mark. To fund this purchase, Strategy sold 1.3 million MSTR shares, raising approximately $519.5 million. The company still has around $18 billion worth of MSTR shares available to finance future Bitcoin acquisitions.
Metaplanet, a Japan-based company, also made a significant Bitcoin purchase, acquiring 1,005 BTC for $108 million. This brought their total holdings to 13,350 BTC, which were purchased at an average price of $97,832, totaling $1.31 billion. Metaplanet CEO, Simon Gerovich, highlighted the company’s rapid expansion, noting that they had only held 3,350 BTC three months ago. The Tokyo Stock Exchange responded to Metaplanet’s growing credibility by lifting margin trading restrictions on the company’s stock, effective July 1. Since transitioning to a Bitcoin-centric treasury strategy in 2024, Metaplanet’s stock has seen an impressive surge of over 8,000%, demonstrating strong investor support for their crypto-focused approach.
The acquisitions made by Strategy and Metaplanet underscore the growing interest from institutional investors in Bitcoin. These companies continue to bolster their positions in the cryptocurrency market, signaling confidence in the long-term potential of digital assets. As the institutional adoption of Bitcoin continues to rise, it further solidifies the role of cryptocurrencies in the mainstream financial landscape.