Metaplanet Adds 2,823 Bitcoin in Q2 as Buying Pace Cools

Metaplanet, a Japanese cryptocurrency firm, continued to accumulate Bitcoin in the second quarter, adding 2,823 BTC to its portfolio, bringing its total to 43,000 BTC. Despite this, the firm's buying pace has slowed, likely due to its current stack sitting below its cost basis. To sustain its aggressive acquisition strategy, Metaplanet has increasingly relied on debt rather than equity. This shift in financial strategy highlights the firm's commitment to its Bitcoin investment, even as it faces potential losses, and underscores the broader challenges and risks in the crypto market.