Japan’s Metaplanet purchased 5,419 BTC at an average price of $117,000 per Bitcoin, totaling $633 million. This acquisition makes them the fifth-largest corporate holder of Bitcoin globally, with a total of 25,555 BTC worth nearly $3 billion. Metaplanet’s stock has fallen over 30% in the past month, trading at $4.09 on Monday.

Despite the stock decline, Metaplanet is betting on aggressive growth by launching subsidiaries in the US and Japan with an initial capital of $15 million each. The company plans to issue 385 million new shares at a discount of nearly 10%, raising an estimated $1.44 billion to expand its Bitcoin holdings. Shares rose 3.8% on Monday but remain under pressure.

Read more at Cointelegraph: Metaplanet Becomes Top 5 Bitcoin Treasury with $633M Buy