Strategy and Metaplanet recently increased their stakes in Bitcoin (BTC) on August 18, raising their total ownership to around 3.1% of the circulating supply. This move underscores the significant impact of corporate treasuries in reducing available Bitcoin liquidity as institutional interest in the cryptocurrency grows. The Chairman of Strategy, Michael Saylor, disclosed the company’s latest acquisition of 430 BTC via a social media post on August 18. This purchase amounted to nearly $51.4 million at an average price of $119,666 per Bitcoin, yielding a 25.1% return on BTC investments this year. Strategy now possesses 629,376 BTC, equivalent to almost 3% of the total Bitcoin supply, with a total investment exceeding $46 billion and an unrealized profit surpassing $27 billion based on current Bitcoin prices. Metaplanet also made a substantial move by acquiring 775 BTC at an average price of ¥17.72 million per coin ($119,853), totaling ¥13.73 billion in expenses ($92.8 million). Following this purchase, Metaplanet now holds 18,888 BTC acquired at an average of ¥15.04 million each ($101,726), with a total investment of ¥284.1 billion ($1.9 billion). Notably, Metaplanet has significantly increased its Bitcoin holdings since March, showcasing a strong commitment to building its Bitcoin treasury. Together, Strategy and Metaplanet now collectively control almost 3.1% of the circulating Bitcoin supply, demonstrating the growing influence of publicly traded companies in Bitcoin’s ecosystem. Both firms rely on capital markets to finance their treasuries, which underscores the intricate relationship between equity valuations and Bitcoin accumulation. As these corporate initiatives expand, investors will closely monitor the delicate balance between shareholder dilution and treasury growth. In a strategic update, Strategy revealed its revised accumulation policy following the August 18 equity guidance update. The company now bases its issuance strategies on multiples of net asset value (mNAV), indicating a proactive approach to issuing stock for Bitcoin purchases when trading above 4.0x mNAV, and selectively issuing shares between 2.5x and 4.0x mNAV. Issuances below 2.5x mNAV are restricted to debt repayment and dividends, while levels below 1.0x may trigger stock buybacks using credit. This updated framework contrasts with the previous guidance, which imposed stricter limitations on equity issuance below 2.5x mNAV. In summary, the recent acquisitions by Strategy and Metaplanet have significantly boosted their Bitcoin holdings to 3.1% of the total supply, reflecting the growing involvement of corporate entities in the cryptocurrency space and their evolving strategies for Bitcoin accumulation.
Corporate Acquisitions Boost Strategy and Metaplanet Bitcoin Holdings to 3.1% of Supply
