Bitcoin Price Slides Below $115,000 As Strategy And Metaplanet Buys Additional Bitcoin
Bitcoin Magazine Bitcoin Price Slides Below $115,000 As Strategy And Metaplanet Buys Additional Bitcoin Bitcoin price dropped below $115,000 as Metaplanet acquired 775 BTC for $93 million at $120,006 per coin, bringing its holdings to 18,888 BTC, while Strategy purchased 430 BTC for $51.4 million, increasing its total to 629,376 BTC. This post Bitcoin Price Slides Below $115,000 As Strategy And Metaplanet Buys Additional Bitcoin first appeared on Bitcoin Magazine and is written by Vivek Sen.
Bitcoin Magazine
Bitcoin Price Slides Below $115,000 As Strategy And Metaplanet Buys Additional Bitcoin
Bitcoin’s price retreated below $115,000 on Monday as two major corporate buyers, Strategy and Metaplanet, announced additions to their Bitcoin treasuries, highlighting the growing trend of institutional accumulation despite market volatility.
Metaplanet, the Tokyo-listed company, acquired 775 BTC for approximately $93 million at an average price of $120,006 per coin, bringing its total holdings to 18,888 BTC acquired for $1.94 billion. The purchase maintains the company’s position as the seventh-largest corporate Bitcoin holder, with an average acquisition cost of $102,653 per Bitcoin across all purchases.
“Metaplanet now hold ~$2.18 billion in $BTC against just ~$0.12 billion of outstanding 0% ordinary bonds,” noted Dylan LeClair, director of bitcoin strategy. “Our 19th Series Ordinary Bonds are 18.67x over-collateralized by our BTC position (BTC Rating: 18.67x), and currently represent the sole liability within our capital structure.”
Simultaneously, Michael Saylor’s Strategy reported purchasing 430 BTC for $51.4 million between August 11-17, at an average price of $119,666 per coin. The US-based company’s total holdings now stand at 629,376 BTC, acquired at an average price of $73,320 per coin, with an aggregate purchase value of $46.15 billion.
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