- Metaplanet buys another 518 Bitcoin worth $61 million.
- The entity now holds a total of 18,113 BTC worth $2.1 billion.
- The Japanese Bitcoin Treasury Company took advantage of the BTC price dip.
The reputed Bitcoin Treasury Company, Metaplanet , has just secured itself another round of BTC bought amidst another price dip. In detail, the price of BTC reached $122,000 and was expected to hit a new ATH target soon, instead the price of BTC fell once again, in another small dip, to the $119,000 price range. This gave Metaplanet the golden opportunity to buy another 518 Bitcoin worth $61 million, bringing its total BTC holdings to 18,113 worth $2.1 billion.
Metaplanet Buys Another 518 Bitcoin Worth $61 Million
As many reputed analysts predicted, Bitcoin demand has grown greater than ever this bull cycle as more and more entities buy Bitcoin by the truckload, either as a treasury, legal tender, or fuel for ETFs. These entities are in a race to secure the most amount of Bitcoin they can possibly hold before prices go too high, leading to an increasing possibility of a massive BTC supply shock.
The BTC accumulation race began in the last bull cycle when the President of El Salvador, Nayib Bukele, made BTC a legal tender within its border. The country also began to mine BTC ethically using the geothermal power of their volcanoes. Inspired by his dedication to the Bitcoin philosophy, Strategy’s Michael Saylor too began to heavily accumulate Bitcoin. Both entities continue to buy Bitcoin to this day.
Now, many other reputed entities have joined the race, including the largest asset manager in the world, BlackRock. This entity however, has not only been accumulating BTC , but also Ethereum (ETH), to offer a wide range of spot ETF options, which are also growing in demand. As for BTC-only accumulators, another name that is in the lead is Japan’s first and only publicly listed Bitcoin Treasury Company, Bitcoin.
The Entity Now Holds 18,113 BTC Worth $2.1 Billion
This entity has been meticulously buying BTC at a rapid pace since July 22, 2024. Upon this first purchase, Metaplanet’s shares went up immediately by 19%. Since then, the entity’s stock is now up by over 1,744%. With more firms adding BTC to their treasuries this bull cycle, every dip is an opportunity to accumulate more of the pioneer crypto asse and Metaplanet does not miss a beat.
As we can see from the post above, Metaplanet bought another 518 Bitcoin worth $61 million. They now hold a whopping total of 18,113 BTC worth $2.1 billion. The price of BTC is currently trading in the $119,000 price range, over 2% below where it was trading 24 hours ago, giving all BC accumulators a chance to secure more Bitcoin holdings before its price hits higher targets and possibly higher ATHs as well.
