Metaplanet, a Japanese investment firm, purchased 463 Bitcoin for 8 billion Japanese yen (approximately $53.7 million) on August 4, making it the first public company to take advantage of Bitcoin's recent 5% dip. This acquisition increased Metaplanet's total Bitcoin holdings to 17,595, valued at over $2 billion, thereby maintaining its status as the seventh largest corporate Bitcoin holder worldwide. The company's strategic intent to steadily accumulate Bitcoin continues even amidst indications of potential challenges ahead in the market. Metaplanet aims to reach a target of 1% of Bitcoin's total supply by the end of 2027. Further bolstering its position, the firm recently announced plans to issue around $3.73 billion in preferred stock, mirroring Michael Saylor's strategy to enhance Bitcoin possession without diluting shares. This move places Metaplanet in a competitive race with other notable institutions, as the number of companies holding Bitcoin on their balance sheets has risen to 162 globally.

Source 🔗