Metaplanet and The Smarter Web Company recently added nearly $100 million worth of Bitcoin to their corporate treasuries. On Tuesday, Metaplanet announced the acquisition of 518 Bitcoin for approximately $61.4 million, raising its total holdings to 18,113 BTC, valued at around $2.15 billion. This positions the Tokyo-listed company as the sixth-largest public Bitcoin holder globally. Meanwhile, The Smarter Web Company acquired 295 BTC for £26.3 million ($35.2 million), bringing its total to 2,395 BTC, which is currently worth about $284.8 million. This purchase was partially funded by a recent equity raise. Both companies highlight the trend of corporate entities increasing their Bitcoin reserves, with corporate treasuries holding a significant portion of the total circulating supply. However, analysts raise concerns over the concentration of Bitcoin, which could lead to potential vulnerabilities in the market.

Source 🔗