Japanese investment firm Metaplanet bought another 463 Bitcoins on Monday, making it the first public company to take advantage of a 5% decline since last week.
According to the latest statement, they bought for $53.7 million, an average purchase price of about $115,895 per token.
This brings Metaplanet’s Bitcoin holdings to 17,595 Bitcoins, worth over $2 billion, maintaining its position as the seventh-largest corporate Bitcoin holder in the world.
Metaplanet may be the first public company to announce a Bitcoin purchase in August, but the move comes after a busy week of crypto asset purchases by other companies.
In the last week of July, reports revealed that 16 firms had added more than $7.8 billion worth of crypto to their respective treasuries.
Meanwhile, Bitcoin exchange-traded products (ETFs) in the United States performed strongly throughout July, but entered August with outflows reaching $812.3 million, making it one of the largest withdrawal days in history.
The purchase by Metaplanet demonstrates the company's commitment to continuing to accumulate Bitcoin, even though recent macroeconomic indicators signal that challenges may be looming in the near future.
