Metaplanet became the fifth company with the largest amount of Bitcoins in the world after buying 5,419 BTC, raising its total to 25,555 BTC.

The Japanese company Metaplanet expanded its Bitcoin treasury with the purchase of 5,419 BTC, making it the fifth largest corporate holder of the cryptocurrency worldwide.

The company announced on Monday that it had acquired 5,419 bitcoins

BTC

📉97,903 €

at an average price of 17,281,012 Japanese yen (about 117,000 dollars) per Bitcoin. With this latest purchase of 633 million dollars, the company's reserves reached 25,555 BTC, making it the fifth largest corporate treasury of Bitcoins, according to BitcoinTreasuries.NET

The purchase price of its last batch of Bitcoins, just under 117,000 dollars, represented a loss of almost 3.9% at the time of writing this article, with a current market price of about 112,500 dollars. With the purchase, the return on Bitcoin of Metaplanet —the percentage change in the ratio of total BTC per fully diluted share— reached 10.3% between July 1 and September 22.

Metaplanet's current Bitcoin holdings are worth almost 3,000 million dollars, significantly higher than the 2,100 million dollars they were worth a month ago. Still, the company's shares have not experienced the same growth during that period.

Metaplanet quotes down

Metaplanet's shares rose 3.8% on Monday, but remained under pressure. Shares have fallen more than 30% in the last month, according to Google Finance. Shares traded at 4.09 dollars on Monday

Metaplanet's shares have risen nearly 78% this year, despite trading well below their all-time high of 15.35 dollars recorded on May 21.

Metaplanet is betting on continuous growth

Metaplanet faces increasing pressure as the price of its shares falls, threatening the fundraising model it has used to build its Bitcoin treasury. Still, the company seems to bet on aggressive continuous growth and the expansion of its Bitcoin holdings.

Earlier this month, Metaplanet announced the creation of Metaplanet Income Corp., a wholly-owned U.S. subsidiary based in Miami with an initial capital of 15 million dollars. At the same time, the company also presented Bitcoin Japan Inc. to reinforce its domestic operations related to Bitcoin.

Also this month, Metaplanet announced that it will issue 385 million new shares to expand its holdings of Bitcoins and related businesses. The initiative plans for the company to issue the new shares at a discount of almost 10% and raise about 1,440 million dollars.