Japanese investment firm Metaplanet has acquired 463 Bitcoin for 8 billion yen (approximately $53.7 million) after a 5% weekend price drop, at an average price of about $115,895 per coin, the company said Monday.

This brings Metaplanet’s total holdings to 17,595 Bitcoin, valued at over $2 billion, making it the seventh-largest corporate holder globally.

The purchase aligns with Metaplanet’s goal of accumulating 210,000 Bitcoin, about 1% of the total supply, by the end of 2027. The company has now reached 8.4% of that target.

To support this strategy, Metaplanet recently announced plans to raise approximately $3.73 billion through perpetual preferred shares. 

This structure, also used by firms like Strategy, provides long-term capital without issuing debt or diluting common stock. 

Metaplanet stated the shares may offer up to a 6% annual dividend, depending on market conditions.

According to BitcoinTreasuries.net, Metaplanet trails firms including Strategy, Mara Holdings, XXI, Bitcoin Standard Treasury Company, Riot Platforms, and Trump Media in total Bitcoin holdings.

As of late July, 162 companies held Bitcoin on their balance sheets, up from 112 as of May 26th.

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