Metaplanet Boosts Bitcoin Holdings with Q2 Acquisition

Metaplanet, a Japanese firm, has continued its aggressive acquisition of Bitcoin (BTC). According to its July 2 disclosure, it purchased 2,823 BTC in Q2, bringing its total holdings to 43,000 BTC. This purchase was made at an average cost of 15.3 million yen ($94,792) per bitcoin, with a total purchase cost of 659.2 billion yen ($4.07 billion). The firm's pace of acquisition has slowed compared to previous quarters.

The second quarter saw significant downside pressure on the cryptocurrency market, with Bitcoin falling 20.4% from $73,580 to $58,558. Metaplanet aims to accumulate 100,000 BTC by the end of this year and 210,000 BTC by the end of 2027.