Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy ever

Japanese investment firm Metaplanet has made its second-largest single Bitcoin purchase ever, scooping up more than 1,000 Bitcoin as the cryptocurrency came within 3% of its all-time high.

Metaplanet said on May 19 that it purchased 1,004 Bitcoin (BTC) for a total cost of around 15.2 billion yen ($104.6 million), bringing its total holdings to 7,800 Bitcoin worth around $807 million at current market prices.

It is the second-largest purchase the firm has made following its buy of 1,241 BTC for $129 million on May 12 in a move that pushed its Bitcoin holdings above that of El Salvador.

Metaplanet has the largest Bitcoin holdings of a public company in Asia and has the tenth largest holdings among public firms globally, according to BiTBO data.

The firm reported a first-quarter BTC Yield of 95.6% and a yield of 47.8% so far in the second quarter, which measures the ratio of percentage change in Bitcoin holdings per fully diluted share.

If Metaplanet buys another 301 BTC, it would surpass Galaxy Digital Holdings, which is in ninth spot with its holdings of 8,100 Bitcoin.

Michael Saylor’s Strategy remains the clear leader in terms of corporate BTC holdings with 568,840 Bitcoin worth around $59 billion.

Related: Metaplanet is raising another $21M through bonds to buy more Bitcoin

Metaplanet has been much more aggressive in its accumulation of the asset in recent months, with 2,800 scooped up so far in May. It made four purchases in April, totaling 794 BTC, and six purchases in March, totaling 1,655 BTC. 

Meanwhile, Michael Saylor has hinted at another Monday purchase by posting a screenshot of the Saylor tracker, which follows the firm’s Bitcoin portfolio, on X. 

“Never short a man who buys orange ink by the barrel,” Saylor said.

Strategy leads the corporate pack with 77% of the growth in Bitcoin holdings so far this year, according to BTC investment firm River.

On May 12, River researchers revealed that corporations and businesses are the largest net buyers of Bitcoin so far this year, outpacing exchange-traded funds, governments, and even retail investors. 

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