MicroStrategy and Metaplanet Replenish Their Bitcoin Stocks Again ✔️
Dec-24-2024 09:45:37 AM
On Monday, two of the largest corporate Bitcoin holders replenished their assets. American MicroStrategy added another 5,262 BTC to its reserves, while the balance of Japanese Metaplanet increased by 619 BTC.
Michael Saylor's company has been buying bitcoin for the seventh week in a row. Last week, MicroStrategy bought 15,350 BTC worth $1.5 billion. This time, the company spent about $561 million on the cryptocurrency. The average price of bitcoin was $106,662.
MicroStrategy's latest purchase was its smallest in recent memory.
The company appears to be running out of funds to continue investing in bitcoin. Not only is this the smallest purchase ever, but it is also the first time the average purchase price has exceeded the market price, economist Peter Schiff wrote.
MicroStrategy currently owns 444,262 BTC, which is currently worth over $40 billion. The organization spent about $27.7 million to acquire them.
Japanese investment company Metaplanet has bought 619.70 bitcoins for $60.7 million. This is the company’s largest acquisition, which increased its total cryptocurrency balance to 1,761 BTC. These assets are now valued at $169.2 million.
Despite some experts being skeptical about the strategies of MicroStrategy and Metaplanet, the company said it will continue to invest in Bitcoin.