 
 
Publicly traded firms Metaplanet and Smarter Web both announced on Tuesday that they had bought more Bitcoin, adding to their already huge holdings.
Tokyo-based investment company Metaplanet snagged 518 Bitcoin for roughly $61.4 million at an average price of $118,519 per coin.
The company now holds 18,113 BTC, worth around $2.15 billion. It paid an average of $101,911 per Bitcoin for the total stash. Under the leadership of CEO Simon Gerovich, Metaplanet now ranks sixth globally among corporate Bitcoin holders, behind Michael Saylor’s Strategy, MARA, XXI, Bitcoin Standard Treasury Company, and Riot, data from BitcoinTreasuries.NET shows.
The latest BTC buy follows Metaplanet’s announcement earlier this month of plans to raise a staggering 555 billion Japanese yen ($3.7 billion) through offering perpetual preferred shares to accelerate its acquisition strategy.
Smarter Web Company Boosts Bitcoin Holdings
The Smarter Web Company, a UK web design and Bitcoin Treasury firm, also disclosed on Tuesday that it had scooped up 295 BTC for £26.3 million ($35.2 million) at an average price of $119,412 per coin.
 
The Smarter Web Company now has a 2,395 BTC stash, acquired for a total cost of $264.8 million, maintaining its place in the top 25 public Bitcoin treasury companies.
Both Metaplanet and The Smarter Web Company have copied the playbook of Michael Saylor’s Strategy (formerly known as MicroStrategy), opting for creative financing solutions to raise money for more Bitcoin buys. Plus, they both report on BTC Yield, a key performance indicator popularized by Saylor and his firm, which measures the ratio of a company’s Bitcoin holdings to its assumed shares outstanding.
Between July 1 and Aug. 12, the BTC Yield stood at 26.5, while The Smarter Web Company has achieved a yield of 55,069% and 76% over the last 30 days.
Metaplanet and The Smarter Web Company’s latest purchases come after market leader Strategy announced it had acquired an additional 155 BTC to reach about 3% of Bitcoin’s total supply on the fifth anniversary of its first Bitcoin buy in 2020.
The premier crypto asset is up around 1.6% in the past 24 hours and trading hands at $120,404, just 2% off its all-time high of $122,838.
Source: https://zycrypto.com/bitcoin-buying-sprees-accelerate-as-metaplanet-smarter-web-boost-btc-reserves-with-roughly-100-million-purchases/