Metaplanet acquired 463 Bitcoin, becoming the first public company to take advantage of Bitcoin's recent dip in value. The Japanese investment firm spent 8 billion Japanese yen (approximately $53.7 million) for these assets, raising its total Bitcoin holdings to 17,595, valued at over $2 billion. This acquisition maintains Metaplanet's rank as the seventh largest corporate Bitcoin holder. The company aims to accumulate 1% of Bitcoin's total supply by the end of 2027 and has made significant strides towards that goal. In a parallel move, Metaplanet plans to issue approximately $3.73 billion in preferred stock to bolster its Bitcoin purchases, a financial strategy previously utilized by Michael Saylor's firm. Notably, 162 companies now hold Bitcoin on their balance sheets, reflecting a growing trend in corporate investments in cryptocurrency.

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