Metaplanet purchased 463 Bitcoin for $53.7 million, becoming the first public company to buy following a 5% weekend dip. Their holdings now total 17,595 Bitcoin worth over $2 billion, making them the seventh-largest corporate Bitcoin holder globally.

Despite macroeconomic concerns, Metaplanet remains focused on accumulating Bitcoin to reach their goal of acquiring 210,000 Bitcoin by 2027, following a strategy similar to Michael Saylor.

Metaplanet plans to issue $3.73 billion in perpetual preferred shares to fund further Bitcoin purchases, following in the footsteps of Saylor’s aggressive strategy to increase Bitcoin holdings significantly.

More public companies are entering the Bitcoin accumulation race, with Metaplanet trailing behind Strategy, Mara Holdings, XXI, and others. There are now 162 companies holding Bitcoin on their balance sheets, up from 112 in May.

Read more at Cointelegraph: Metaplanet First Bitcoin-Stacking Firm To Buy Dip In August