The business demand for Bitcoin continues despite its volatile price performance, because both strategy and metaplanet have expanded their participations at the end of August.
On August 25, the two companies announced that they acquired more than 3,100 BTC, which reflects how institutional treasures immediately reduce the available supply and form market – liquidity.
Strategy’s first major purchase in August
Strategy, the world’s largest company owner of Bitcoin, confirmed On 25 August it bought 3,081 BTC for $ 356.9 million.
The company said it paid on average $ 115,829 per coin, with the help of revenues from recent sale of its ordinary shares of class A and preference share.
This acquisition increased the total stock of the strategy to 632,457 BTC, collected for an amount of around $ 46.5 billion. The average purchase price of the company is now $ 73,527 per bitcoin.
At the current market level, those companies are appreciated at nearly $ 70.56 billion, which corresponds to a profit margin of around 51.7%.
The relocation represents the most important purchase of the strategy this month, after smaller acquisitions of 155 BTC and 430 BTC earlier in August.
It also strengthened the company’s strategy to steadily build the reserves in the midst of increased volatility. Year-to-date, the Bitcoin position of the strategy has yielded a yield of 25.4%.
Metaplanet adds 103 BTC, joins FTSE Japan Index
Meanwhile, in Tokyo -based metaplanet, often in comparison with strategy for his aggressive treasury strategy, unveiled That it acquired 103 BTC for around ¥ 1,736 billion ($ 11.8 million). The coins were purchased at an average price of ¥ 16.86 million per BTC.
With this addition, the reserves of Metaplanet climbed to 18,991 BTC, purchased at a total costs of more than $ 1.9 billion.
Based on current market prices, those interests are worth around $ 2.12 billion, making the company a profit margin almost 9%.
The announcement coincided with the recording of the company in the FTSE Japan index.
In an X -Post Simon Gerovich, CEO of Metaplanet stated:
“Metaplanet has been added to the FTSE Japan index in the September review. Another important milestone on our journey as the leading Bitcoin Treasury Company of Japan.”
The FTSE Japan index measures the performance of medium and large capitalization companies that are mentioned on Japanese trade fairs. The recording of the Bitcoin-oriented company means that it has been upgraded from a small cap to a mid-cap status.