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

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

Led by CEO Simon Gerovich, Metaplanet 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 offering perpetual preferred shares to support its acquisition strategy.

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 on 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 $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 about $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.

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 companies holding 791,662 BTC as of July, representing almost 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.

Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’