Metaplanet continues to purchase an additional $6.9 million worth of Bitcoin, raising its total holdings to 506.7 BTC with an average DCA price of $64,900 per coin.
The Japanese public company, Metaplanet, once again reaffirmed its “all-in” Bitcoin strategy by spending 1 billion yen (equivalent to $6.9 million) to acquire more BTC.
*Metaplanet purchases additional 107.91 $BTC* pic.twitter.com/pPrRBGrJsC
— Metaplanet Inc. (@Metaplanet_JP) October 1, 2024
After the latest purchase, Metaplanet now holds a total of 506.7 BTC with an average DCA price of $64,900 per coin. This high DCA price is because the company started buying Bitcoin in May this year, after announcing its decision to use Bitcoin as a reserve asset. Over the past few months, Metaplanet has continued accumulating, even while Bitcoin’s price remained above $50,000.
Currently, with Bitcoin’s price hovering around $63,700, Metaplanet’s investment has only registered a loss of around 2%, demonstrating the strength of a well-executed DCA strategy.
Clearly, Metaplanet is following in the footsteps of its predecessor, MicroStrategy, a company that has been “loyal” to Bitcoin despite enduring losses over several years.
To date, Michael Saylor’s company has accumulated 252,220 Bitcoins at an average price of $39,266 per coin. MicroStrategy’s Bitcoin portfolio is now seeing a profit of nearly 60%.
In addition to familiar giants like MicroStrategy, MARA, Tesla, and Tether, who continue their periodic Bitcoin purchases, more and more large corporations and institutions worldwide, such as OneMedNet, Boyaa Interactive, and Semler Scientific, are starting to view Bitcoin as an effective investment tool.
