Metaplanet, Japan’s top Bitcoin corporate treasury company, announced on Monday it had purchased an additional 1,111 Bitcoins.
According to regulatory filings on Monday, Metaplanet’s total holdings reached 11,111 Bitcoin (BTC), with the company’s BTC holdings reaching an impressive distance of 11,509 BTC on Tesla’s current Bitcoin Stash.
Metaplanet spent 172.6 billion yen (approximately $117 million) on purchases, paying an average of just under $105,500 per coin.
As of Monday, Bitcoin was trading for less than $102,000, according to CoinmarketCap. Despite the short-term DIP, Metaplanet’s average cost base remains low at $95,560 per coin.
Related: Bitcoin as the Ministry of Corporate Finance: Why Meta, Amazon and Microsoft said it all
Metaplanet’s Treasury Department continues to grow
The announcement pushed the company’s total Bitcoin holdings to 10,000 BTC after Metaplanet purchased 1,112 Bitcoin a week ago. The purchase came two weeks after Metaplanet became the eighth largest corporate Bitcoin holder.
The mining industry, which mined Hat8, temporarily dropped to ninth place after increasing its holdings, but has since regained eighth place.
The next company in the ranking is Tesla. Tesla has 11,509 BTC, just 398 BTC than Metaplanet. Given their recent track record, Metaplanet could potentially overtake Tesla’s holdings by the end of the month.
The next company is Bitcoin mining company CleanSpark, with 12,502 BTC and 1,391 BTC more than Metaplanet’s current holdings.
Related: $5.1 billion Cardone Capital Buys 1,000 Bitcoin, with an additional 3,000 btc
Bitcoin Treasury like mushrooms after the rain
Several publicly available companies have decided to jumpstart their own Bitcoin Treasury Department or acquire new funds for existing companies. A few days ago, Bitcoin holding company Nakamoto Holdings secured $51.5 million in capital to acquire more Bitcoin.
On Friday, Parataxis Holdings, an affiliate of digital asset-focused investment firm Parataxis Capital Management, announced the launch of the Bitcoin Native Ministry of Finance platform in the South Korean public market. Earlier this month, Norwegian crypto company K33 announced plans to raise a minimum of 85 million Swedish Crona ($8.9 million) through the stock issue, funding the purchase of up to 1,000 Bitcoin in the company’s reserves.
Norway also saw its share price rise 138% in one day after Norway said it was beginning of the month that Norwegian block exchange crypto exchanges were beginning to buy and hold Bitcoin. Another recent example was the acquisition of 182 BTC by Paris-listed technology company The Blockchain Group, which reached around $19.6 million, bringing its total holding of 1,653 BTC as of Wednesday.
According to bitcointreasuries.net, at least 240 public companies currently own Bitcoin with over 832,000 BTC combined, with approximately 3.96% of their total supply being 21 million.
Magazine: Invisible tug of war between suits and sipalpunk
