Japan’s Metaplanet, a Tokyo-listed firm driving corporate BTC treasury expansion, joined the top 5 Bitcoin holders among public companies.
This is when they made their latest purchase of $632.5 million (5,419 BTC) which is also their largest acquisition yet.
They are now officially a major player in the global cryptocurrency market.
Metaplanet’s CEO Simon Gerovich said the company acquired $BTC at an average price of $116,724 per coin.
Metaplanet Now Top 5 Bitcoin Holder
This purchase now boosts Metaplanet’s total holdings to 25,555 BTC. This amounts to roughly $2.71 billion.
The company now trails only Strategy, Mara, XXI, and Bitcoin Standard Treasury Company.
Strategy led by Michael Saylor leads corporate Bitcoin holdings with 638,985 BTC.
Meanwhile earlier this month, Metaplanet announced plans to raise $1.4 billion through the issuance of 385 million new shares.
The proceeds of this were dedicated to purchase more $BTC.
Moreover, the company established a U.S. subsidiary, Metaplanet Income Corp to boost their corporate BTC treasury expansion.
The subsidiary will also focus on derivatives and generate income via activities tied to bitcoin.
Surpassing Bullish in Bitcoin holdings
Metaplanet’s stock saw a modest 0.5% decline during midday trading in Japan on Monday. However, the stock remains up 73.85% year-to-date.
This record-breaking acquisition therefore, exhibits Metaplanet’s aggressive push to expand beyond the top 5 Bitcoin holders in the corporate sphere.
