Bitcoin’s price retreated below $115,000 on Monday as two major corporate buyers, Strategy and Metaplanet, announced additions to their Bitcoin treasuries, highlighting the growing trend of institutional accumulation despite market volatility.
Metaplanet, the Tokyo-listed company, acquired 775 BTC for approximately $93 million at an average price of $120,006 per coin, bringing its total holdings to 18,888 BTC acquired for $1.94 billion. The purchase maintains the company’s position as the seventh-largest corporate Bitcoin holder, with an average acquisition cost of $102,653 per Bitcoin across all purchases.
“Metaplanet now hold ~$2.18 billion in $BTC against just ~$0.12 billion of outstanding 0% ordinary bonds,” noted Dylan LeClair, director of bitcoin strategy. “Our 19th Series Ordinary Bonds are 18.67x over-collateralized by our BTC position (BTC Rating: 18.67x), and currently represent the sole liability within our capital structure.”
Simultaneously, Michael Saylor’s Strategy reported purchasing 430 BTC for $51.4 million between August 11-17, at an average price of $119,666 per coin. The US-based company’s total holdings now stand at 629,376 BTC, acquired at an average price of $73,320 per coin, with an aggregate purchase value of $46.15 billion.
The acquisitions come amid an unprecedented surge in corporate Bitcoin treasury adoption, with the number of public companies holding Bitcoin increasing to over 200 in the past quarter alone. This rapid expansion reflects growing institutional confidence in Bitcoin as a treasury asset, despite short-term price fluctuations.
We’re witnessing a fundamental shift in corporate treasury management. Companies are increasingly viewing Bitcoin as a strategic asset class, with new entrants joining the market almost daily.
Metaplanet’s systematic approach to Bitcoin acquisition has been particularly noteworthy, with the company executing over 20 separate purchases since July 2024, growing its holdings from under 200 BTC to its current position. The company reported a Bitcoin Yield of 29.3% for the latest period, though down from 129.4% in Q2, while maintaining a near-record low multiple to net asset value.
Strategy has also updated its equity issuance guidance, announcing it will tactically issue shares to fund debt obligations and preferred equity dividends when its modified Net Asset Value (mNAV) falls below 2.5x. The company will opportunistically issue equity to acquire Bitcoin between 2.5x and 4.0x mNAV, and actively pursue acquisitions above 4.0x.
The increasing sophistication of corporate Bitcoin strategies reflects a maturing market. We’re seeing innovative financing structures and treasury management approaches specifically designed for Bitcoin acquisition.
The corporate buying activity comes as Bitcoin price trades near $116,000, down from its recent high of $124,000. Despite the pullback, institutional demand remains robust, with U.S.-listed Bitcoin ETFs recording significant inflows and corporate treasuries continuing to accumulate.
As more corporations embrace Bitcoin as a treasury asset, the market continues to develop new financial instruments and investment vehicles designed specifically for institutional Bitcoin exposure. This growing institutional adoption may signal a new phase in Bitcoin’s evolution from a speculative asset to a mainstream treasury holding, even as prices experience short-term volatility.
Source: https://bitcoinmagazine.com/markets/bitcoin-price-slides-below-115000-as-strategy-and-metaplanet-buys-additional-bitcoin
