Institutional Bitcoin accumulation shows no signs of slowing as Strategy and Metaplanet purchased close to 6,000 BTC last week, continuing their aggressive acquisition strategies.
According to their separate announcements on June 30, the two companies acquired 5,985 BTC, investing approximately $640 million in the process.
Strategy moves closer to 600K BTC
Strategy, the largest corporate holder of Bitcoin, added 4,980 BTC for $531.1 million, according to a June 30 filing with the US Securities and Exchange Commission (SEC).
This brings its total holdings to 597,325 BTC, now valued at over $64 billion. The average purchase price is $70,982 per Bitcoin, with total acquisition costs amounting to $42.4 billion.
Following this purchase, Strategy is now less than 3,000 BTC away from surpassing the 600,000 BTC mark.
Strategy said it sold 1.3 million MSTR shares last week to fund the purchase, raising approximately $519.5 million. It added that it still has around $18 billion worth of MSTR shares to finance future BTC acquisitions.
Meanwhile, this marks the first time in over three weeks that Strategy used its MSTR equity issuance program to fund Bitcoin purchases.
Commenting on the timing, Bitcoin analyst Michael Sullivan described the move as “tactical,” noting that:
“This was arguably the most important week Saylor’s ever had to make sure the Bitcoin price stayed elevated…. So naturally, they used the MSTR ATM. Some short-term drop in share price is worth the long-term earnings and guaranteed S&P qualification.”
The Michael Saylor-led company also sold additional shares from its perpetual preferred stock offerings, including 276,071 STRK shares for $28.9 million and 284,225 STRF shares for $29.7 million.
Metaplanet adds 10,000 BTC in 3 months
According to a June 30 statement, the Japan-based Metaplanet is now the fifth-largest public Bitcoin holder following its acquisition of 1,005 BTC for $108 million.
The purchase propelled its total holdings to 13,350 BTC, which were purchased at an average price of $97,832 for a total investment of $1.31 billion.
Metaplanet CEO Simon Gerovich highlighted the company’s rapid expansion, pointing out that the firm held just 3,350 BTC three months ago. He said:
“Now, we’ve added 10,000 more to reach 13,350 BTC.”
Japan’s Tokyo Stock Exchange has responded to Metaplanet’s growing credibility by announcing the removal of margin trading restrictions on the company’s stock, effective July 1.
Since adopting a Bitcoin-centric treasury strategy in 2024, Metaplanet’s stock has surged by more than 8,000%, showing strong investor support for its aggressive crypto positioning.
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