Japanese investment firm Metaplanet has cemented its position as one of the major players in the corporate Bitcoin arena.
The company has announced a massive purchase of 5,268 BTC, valued at approximately $623 million (¥91.6 billion).
This strategic acquisition, made at an approximate price of $118,328 per coin, catapults Metaplanet to fourth place among the largest publicly traded Bitcoin holders, behind only Strategy, MARA Holdings, and XXI.
This latest purchase is part of an aggressive accumulation strategy, coming just weeks after a record $632 million purchase in September. The company's total holdings now stand at a formidable 30,823 BTC.
The company's CEO, Simon Gerovich, linked this treasury strategy to strong operating results, citing quarterly revenue growth of 115.7% in the third quarter, which he said strengthens the foundation of its Bitcoin-focused financial plans.