Metaplanet, a Japanese hotel company, is making significant strides in the cryptocurrency market by acquiring Bitcoin. Recently, it overtook Tesla, which is owned by Elon Musk, becoming the fifth largest corporate holder of Bitcoin.
Currently, Metaplanet’s Bitcoin reserves stand at 12,345 BTC, with a recent purchase of 1,234 BTC costing $133 million at an average price of $107,877 per Bitcoin. Their average purchase price for the entire Bitcoin stash is now approximately $98,303.
Highlights:
- Metaplanet has now surpassed Tesla’s previous Bitcoin holdings of 11,509 BTC.
- This strategy mirrors the approach taken by other major firms such as MARA, Riot, Galaxy, and Strategy, the largest corporate holder with over 570,000 BTC.
For further insights, you can check out their previous report where Metaplanet stated they raised $515 million, adding $4.8 million to their Bitcoin treasury.
