- Strategy announced its purchase of 1,955 Bitcoin in the previous week for $217.4 million.
- At the same time, Metaplanet revealed buying 136 BTC for $15.2 million.
Strategy (MicroStrategy) and Metaplanet do not appear to be holding back in their Bitcoin (BTC) purchases. Today, both announced stacking up more of the asset to reinforce their corporate treasuries.
Strategy’s 1,955 Bitcoin Purchase
According to its Form 8-K filing at the US Securities and Exchange Commission (SEC), Strategy acquired 1,955 BTC for $217.4 million in staggered purchases from September 2 to 7. This translated to an average of $111,196 per BTC at a time when prices swung between a $107K low and a $113K high.
Strategy notably employs staggered instead of a lump-sum Bitcoin purchase to mitigate volatility risks and keep the transactions’ dollar cost average (DCA) minimal. It exhibits a disciplined and systematic approach in its BTC buying model for the efficient deployment of capital.
The latest development increases Strategy’s digital assets stockpile to 638,460 BTC, while raising its Bitcoin yield to 25.8% year to date (YTD). The company popularized BTC yield as a key performance indicator (KPI) to track the percentage change in its BTC supply relative to its fully diluted share outstanding over a given period. The metric shows the growth of Strategy’s Bitcoin stack per share, which is central to its core strategy, rather than simply relying on its stock prices to indicate progress.
Strategy now owns 3.04% of Bitcoin’s 21 million total supply, and has invested $47.17 billion to build up its BTC coffers. This reflects an average cost of $73,880 per BTC.
Earlier in the day, Metaplanet also disclosed in a document posted on its social media channel that it had acquired 136 BTC for around $15.2 million. The Tokyo Stock Exchange-listed company didn’t say how or when it executed its purchases, but it’s presumed to have occurred at the time Strategy bought its latest batch of Bitcoin.
Nevertheless, Metaplanet almost had the same average purchase cost as Strategy at $111,666 per BTC. Currently, the Japanese company maintains 20,136 BTC, with its Bitcoin yield improving at 487% YTD. So far, it has already spent $2.08 billion in BTC accumulation at an average of $103,196 per BTC.
Final Thoughts
Strategy and Metaplanet’s conviction underscores Bitcoin’s viability as a long-term treasury asset. Both are surely undertaking big bets, but their playbook is undoubtedly becoming a blueprint for the new era of corporate treasury management.
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