Metaplanet has become the fifth largest institutional Bitcoin investor in the world by purchasing another 1005 BTC.
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Introduction
Japanese Bitcoin treasury company Metaplanet continues to purchase Bitcoin (BTC). In its latest purchase, it purchased another 1005 Bitcoins, increasing its total BTC holdings to 13,350 BTC. With its latest purchase, the company surpassed mining company Cleanspark and became the fifth largest institutional investor in terms of Bitcoin (BTC) amount.
Institutional Investors Continue to Purchase BTC
Institutional investors around the world have accelerated their Bitcoin purchases, especially in the last year. Metaplanet currently holds 13,350 BTC purchased for an average cost of approximately $97,832 for $1.31 billion. Bitcoin mining company CleanSpark holds 12,502 BTC, according to BiTBO data. With its latest purchase, Metaplanet has surpassed Tesla, Hut 8, Coinbase and Block Inc. in the Bitcoin treasury. Institutional firms such as Strategy, Marathon Digital, Twenty One Capital and Riot Platforms own more Bitcoin than Metaplanet.
Metaplanet CEO Simon Gerovich, who made a statement after the latest BTC purchase, stated that the average price per coin in the latest purchase was $107,601. In addition, the company's earnings yield on BTCs it has held since the beginning of the year has been 349 percent.
More Purchases on the Way
Metaplanet's $208 million bond refinancing strategy was announced after its latest BTC purchase. The strategic bond refinancing includes the issuance of 30 billion yen ($208 million) of 0 percent interest ordinary bonds through the EVO fund. The company will use this resource for additional Bitcoin purchases. The company's 2026 target was 21 thousand BTC. Now the new target is to reach 100 thousand BTC by 2026. The company also announced plans to raise $5.4 billion and purchase 210,000 Bitcoin by 2027. Metaplanet is working hard to become the world's largest institutional BTC holder.
On the other hand, Saylor has a new buy signal. Strategy CEO Michael Saylor wrote, "After 21 years, you wish you had bought more," along with a chart he shared.
Our Final Thoughts
Institutional investors are almost blinded and are buying BTC at an incredible pace. When we look at the Bitcoin halving and reward chart, we understand the reason for this better. The last BTCs are now being mined by miners. When we write this news, 19,885,728 BTC are on the market and the number of remaining BTCs has decreased considerably. The remaining approximately 1 Million BTC will be produced in approximately 110 years!
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