Japan-based Metaplanet has acquired 5,419 Bitcoins worth $632.5 million, marking the largest purchase in its corporate history.
CEO Simon Gerovich announced on social media that the Bitcoins were bought at an average price of $116,724. With this latest purchase, Metaplanet’s total holdings have reached 25,555 BTC. The company’s total cost now stands at approximately $2.71 billion, with an average purchase price of $106,065 per Bitcoin.
This move positions Metaplanet as the fifth-largest public corporate holder of Bitcoin, surpassing Bullish but still behind Strategy, Marathon Digital, XXI, and Bitcoin Standard Treasury Company. Strategy remains at the top of the list with 638,985 BTC.
Metaplanet has been pursuing an aggressive expansion strategy. Earlier this month, it announced a $1.4 billion capital raise to fund additional Bitcoin purchases. Last week, the board approved the creation of a new U.S. subsidiary, “Metaplanet Income Corp.,” which will focus on generating revenue from Bitcoin derivatives. Despite this, its Japan-listed shares have dropped 27.5% in the past month, while U.S.-traded shares closed last week up 3.81%.
