Crypto treasury firm Metaplanet has purchased 5,419 BTC for $632 million as per an X post by the company. According to CoinGecko, it has taken the position of the 5th largest corporate BTC holder.
This represents one of the largest purchases made by Metaplanet as the company’s holdings are now numbered at 25,555 BTC, acquired for a total cost of $2.71 billion.
The update comes after it announced a slew of changes, including the creation of Bitcoin Income Corp and Bitcoin Japan Inc, which restructures the business into three formal segments: Bitcoin financial products, the core Bitcoin treasury business, and a media and events arm for Metaplanet, which will also be tasked with managing the domain bitcoin.jp.
The treasury firm also raised $1.4 billion via an international share offering to expand its bitcoin holdings.
Metaplanet is Japan’s largest BTC treasury firm and regularly purchases the blue-chip cryptocurrency alongside Strategy, which is the largest corporate holder of Bitcoin.