Metaplanet acquires BTC at record prices
The post Metaplanet acquires BTC at record prices appeared on BitcoinEthereumNews.com. Metaplanet continued with its weekly purchases, even as BTC was charting new all-time records. The latest addition to the treasury was for 797 BTC. The Japanese BTC treasury company Metaplanet continued its series of regular purchases. In the past week, while BTC was charting new records, Metaplanet added another 797 BTC, to reach a total of 16,352 BTC. This ranks Metaplanet as the fifth largest treasury holder, surpassing Galaxy Digital. The last week’s purchase remains higher compared to the previous addition of just 116 BTC. Treasury companies, however, thrive on market exuberance and do not rely so much on ‘buying the dip’. Metaplanet’s announcement has been following the model of Strategy (MSTR), building up the treasury on a weekly basis. Unlike Strategy, Metaplanet’s purchases are transparent. Most of the BTC in the treasury is held in one known address, containing 15,555 BTC. For the latest purchases, the company used the BitFlyer exchange. The company also brought in direct deposits from Coinbase Prime and acquired some of the coins from QCP Capital. Metaplanet acquires BTC at record prices Metaplanet’s approach is to buy at any price, similar to other treasury companies. The latest purchase was for an average price of $117,451. Before the purchase, Metaplanet had an average acquisition price of $98,582. The latest purchase raised the average price to $100,191 per BTC, still allowing significant leeway to Metaplanet as BTC charted records above $122,000. For now, the MTPLF shares hold near their six-month high, though the price has been sliding for the past month. MTPLF shares slid in the past month, as Japanese investors sold. The stock has consolidated near its higher range for the past six months, but stalled its vertical climb. | Source: Google Finance Even with weekly purchases, MTPLF deflated to $10.56. Metaplanet’s CEO Simon Gerovich noted…
The post Metaplanet acquires BTC at record prices appeared on BitcoinEthereumNews.com.
Metaplanet continued with its weekly purchases, even as BTC was charting new all-time records. The latest addition to the treasury was for 797 BTC. The Japanese BTC treasury company Metaplanet continued its series of regular purchases. In the past week, while BTC was charting new records, Metaplanet added another 797 BTC, to reach a total of 16,352 BTC. This ranks Metaplanet as the fifth largest treasury holder, surpassing Galaxy Digital. The last week’s purchase remains higher compared to the previous addition of just 116 BTC. Treasury companies, however, thrive on market exuberance and do not rely so much on ‘buying the dip’. Metaplanet’s announcement has been following the model of Strategy (MSTR), building up the treasury on a weekly basis. Unlike Strategy, Metaplanet’s purchases are transparent. Most of the BTC in the treasury is held in one known address, containing 15,555 BTC. For the latest purchases, the company used the BitFlyer exchange. The company also brought in direct deposits from Coinbase Prime and acquired some of the coins from QCP Capital. Metaplanet acquires BTC at record prices Metaplanet’s approach is to buy at any price, similar to other treasury companies. The latest purchase was for an average price of $117,451. Before the purchase, Metaplanet had an average acquisition price of $98,582. The latest purchase raised the average price to $100,191 per BTC, still allowing significant leeway to Metaplanet as BTC charted records above $122,000. For now, the MTPLF shares hold near their six-month high, though the price has been sliding for the past month. MTPLF shares slid in the past month, as Japanese investors sold. The stock has consolidated near its higher range for the past six months, but stalled its vertical climb. | Source: Google Finance Even with weekly purchases, MTPLF deflated to $10.56. Metaplanet’s CEO Simon Gerovich noted…
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