Metaplanet bets big on bitcoin with largest-ever $632M acquisition

Bitcoin in recent development has received record-breaking investment as Tokyo-based Metaplanet makes the largest BTC purchase worth $632 million.

After the historic purchase of an additional 5,419 BTC, Metaplanet has improved its global bitcoin ranking by becoming the fifth-largest BTC treasury holder ahead of Bullish and behind Strategy, Mara, XXI, and Bitcoin Standard Treasury Company.

In the ranking, Michael Saylor’s Strategy holds the first position with 638,985 BTC.

As a result of the recent acquisition, the company now holds 25,555 BTC in total acquired for $2.71 billion, exceeding Bullish in bitcoin reserves, according to The Block’s data dashboard.

Metaplanet CEO Simon Gerovich took to X on Monday, announcing the latest investment, making at an average price of about $116,724 per bitcoin.

The recent purchase helps the firm to gain about $290 million and to strengthen its Bitcoin-based treasury model.

Following the announcement, Metaplanet’s stock dropped 0.5 percent in Japan on Monday, September 22, as reported by Yahoo Finance data.

According to The Block’s bitcoin price page, in the past 24 hours, the bitcoin market has crashed, slipping 1.06 percent to trade at $114,449 as of Sunday.