Metaplanet, Smarter Web add nearly $100M in Bitcoin to treasuries

Two publicly listed companies, Japan’s Metaplanet and the United Kingdom’s The Smarter Web Company, have added nearly $100 million worth of Bitcoin to their corporate treasuries.

On Tuesday, Metaplanet disclosed that it has purchased 518 Bitcoin ($BTC) for around $61.4 million at an average price of $118,519 per coin. The buy lifts the Tokyo-listed firm’s total holdings to 18,113 $BTC, worth roughly $2.15 billion at current prices, acquired at an average of $101,911 per Bitcoin.

The firm, led by CEO Simon Gerovich, now ranks sixth globally in public company Bitcoin holdings, behind Michael Saylor’s Strategy, MARA, XXI, Bitcoin Standard Treasury Company, and Riot, according to data from BitcoinTreasuries.NET.

The latest purchase follows Metaplanet’s announcement earlier this month of plans to raise up to 555 billion Japanese yen ($3.7 billion) through perpetual preferred shares to support its acquisition strategy.

Top 15 Bitcoin treasury companies. Source: BitcoinTreasuries.NET

Related: Strategy adds $18M in Bitcoin on fifth anniversary of $BTC strategy

Smarter Web Company acquires 295 $BTC

The Smarter Web Company, a London-listed web design and Bitcoin treasury firm, also revealed Tuesday that it has acquired 295 $BTC for 26.3 million pounds ($35.2 million) at an average of $119,412.

The purchase was funded in part by a 7.6 million pounds ($10.2 million) equity raise completed on Monday. As reported, The Smarter Web Company also raised $21 million through a Bitcoin-denominated bond offering last week.

The acquisition brings Smarter Web’s total holdings to 2,395 $BTC, purchased at an average of $110,555 each for a total cost of $264.8 million. At current prices, the stash is valued at roughly $284.8 million, giving the company an unrealized gain of about $20 million.

With more than 1,500 $BTC bought in July alone, Smarter Web has jumped from 36th to 23rd place in the global public company rankings and is targeting a top-20 spot in the coming weeks.

The Smarter Web Company holds 2395 $BTC. Source: BitcoinTreasuries.NET

Related: Bitcoin Treasury Model Faces Collapse — Strategy Stands Strong

US could nationalize corporate Bitcoin

Corporate crypto treasuries have crossed the $100 billion mark, with Bitcoin treasury firms holding 791,662 $BTC, as of July, representing nearly 4% of the circulating supply. However, some analysts have warned that the growing concentration of assets in corporate hands could create a central point of vulnerability for Bitcoin.

Crypto analyst Willy Woo suggested the US could one day move to nationalize these holdings, drawing parallels to the 1971 gold standard exit. Woo speculated the government might centralize corporate Bitcoin reserves and potentially “rug” them, just as gold convertibility was suspended under President Richard Nixon.

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