Metaplanet and Strategy Pounce on Bitcoin Dip—Snag $200M in Bold Accumulation Play

When Bitcoin sneezes, opportunists buy the tissue. Tokyo-based Metaplanet and investment firm Strategy just proved it—dropping $200 million to load up during the recent correction.

The Contrarian Gambit

While retail investors panicked over red candles, these players saw a fire sale. Their move mirrors institutional ’buy the fear’ tactics—except with fewer PowerPoint decks and more audacity.

A Cynic’s Footnote

Of course, this could backfire spectacularly. But if it works? Another case study for finance bros to overuse at cocktail parties—right between their ’ATH’ and ’FOMO’ buzzword bingo.

Strategy buys 705 BTC

Strategy disclosed on June 2 that it acquired 705 BTC between May 26 and May 30. The company spent $75.1 million, paying an average of $106,495 per coin.

This new purchase pushes Strategy’s total holdings to 580,955 BTC, which is approximately 2.8% of Bitcoin’s total supply of 21 million.

Michael Saylor, Strategy’s executive chairman, stated that the firm’s total cost basis is now $40.68 billion, with an average acquisition price of $70,023 per BTC. At current market prices, those holdings are worth more than $60 billion, leaving Strategy with an estimated unrealized gain of around $20 billion.

Crucially, this purchase was the first funded entirely without selling any common stock of its parent company, MSTR. Instead, Strategy tapped new at-the-market offerings for its preferred stock: STRK and STRF.

Last week alone, it raised $36.2 million by selling 353,511 STRK shares and another $38.4 million from 374,968 STRF shares. More than $22 billion in capacity remains under those programs.

As of early June, Strategy reported a year-to-date Bitcoin yield of 16.9% and a quarter-to-date yield of 5.4%, reflecting the growing value of its BTC treasury.

Metaplanet ramps up BTC acquisitions

Meanwhile, Tokyo-based Metaplanet revealed it had purchased another 1,088 BTC for 16.89 billion yen, or around $117.5 million.

It added that this purchase was made at an average price of 15.5 million yen, or $108,051, per coin.

This latest haul raises Metaplanet’s total to 8,888 BTC, valued at approximately $930 million. It also aligns with the firm’s aggressive goals of acquiring 10,000 BTC this year.

Metaplanet CEO Simon Gerovich stated that the firm’s second-quarter BTC yield now stands at 66.3%, with cumulative returns for the year hitting 225.4%.

He added that the company aims to maintain a 35% quarterly return as it cements its position as one of the top 10 corporate Bitcoin holders worldwide.