Metaplanet becomes Top 5 Bitcoin Treasury with $ 633M to buy

Japan’s metaplanet has expanded Bitcoin’s treasury with 5,419 BTC purchases, making it a fifth largest cryptocurrency corporate owner in the world.

The company Says Monday it got 5,419 bitcoin (Btc) at an average price of 17,281,012 Japanese yen (about $ 117,000) per Bitcoin. With this latest $ 633 million purchase, the company holds up to 25,555 BTC, making it fifth largest corporate Bitcoin Treasury, According to in bitcointreasuries.net.

The purchase price of Bitcoin’s latest tranche, just $ 117,000, puts the investment to a loss of nearly 3.9% at the time of writing, with a current market price of nearly $ 112,500. Includes the purchase, Metaplanet’s Bitcoin Ani – The percentage change in the ratio of the total BTC per fully melted part – up to 10.3% from July 1 to Sept. 22.

The current Bitcoin handling of metaplanet costs about $ 3 billion, which is higher than $ 2.1 billion they cost a month. However, the company’s stock did not see the same growth at the time.

Related: Metaplanet, El Salvador added Bitcoin while ‘neutral’ changes

The metaplanet collapsed

Metaplanet shares rose 3.8% on Monday, but remained under pressure. Stock dropped more than 30% in the last month, According to In Google Finance. Shares were exchanged for $ 4.09 on Monday.

Metaplanet stock reached about 78% this year despite trading properly below the full time of $ 15.35 reported on May 21.

Related: Metaplanet removes the path for $ 3.7B Bitcoin accumulation approach

Metaplanet bets on continuous growth

Metaplanet facing pressure mounted As its sharing price drops, it threatens the funding model it used to develop the Bitcoin treasury. However, the company appears to be betting on the ongoing aggressive growth and the expansion of its Bitcoin handling.

Earlier this month, Metaplanet announced the establishment of metaplanet income corp., A full US subsidiary -based Miami subsidiary with an initial capital of $ 15 million. At the same time, the company also released Bitcoin Japan Inc. to strengthen operations associated with domestic bitcoin.

Also this month, Metaplanet has announced that it will release 385 million new shares To expand Bitcoin’s handling and related businesses. The initiative sees the company release new shares in a discount of nearly 10% and raises an estimated $ 1.44 billion.