Key Takeaways:Metaplanet adds 5,419 BTC, bringing total to 25,555 BTC worth nearly $3BStrategy acquires $100M in Bitcoin, pushing total to 639,835 BTC at a $47.3B valuationInstitutional buying slows overall, but firms like Metaplanet continue to ramp up exposureMetaplanet Buys 5,419 BTC, Climbs to Top 5 Corporate HolderJapan-based Metaplanet has officially entered the ranks of the world’s largest corporate Bitcoin treasuries with a 5,419 BTC acquisition worth approximately $633 million. The purchase, made at an average price of ¥17.28 million ($117,000) per BTC, brings the company’s total Bitcoin holdings to 25,555 BTC—valued near $3 billion at current prices.According to BitcoinTreasuries.NET, this positions Metaplanet as the fifth-largest corporate Bitcoin holder globally. The company's aggressive accumulation strategy reflects its belief in Bitcoin as a long-term store of value, despite short-term price dips. Strategy Continues Purchases Albeit at a Slower PaceWhile Metaplanet accelerates, larger players like Michael Saylor's Strategy are slowing down. The firm announced a modest acquisition of 850 BTC for $99.7 million last week, following the U.S. Federal Reserve’s 25 basis point interest rate cut. This brought Strategy’s total holdings to 639,835 BTC, worth $47.3 billion at an average cost basis of $73,971 per coin.Compared to its buying pace earlier in the year, Strategy's September total acquisition of 3,330 BTC reflects a sharp slowdown. Saylor acknowledged this cooling phase, attributing it to Bitcoin’s decreasing volatility and growing institutional maturity, calling it “boring for a while.”Amid Dropping Volatility, Institutional Interest ShiftsBitcoin’s muted price action and declining volatility appear to be altering the institutional landscape. As the asset stabilizes above $110,000, newer entrants like Metaplanet are stepping up purchases while legacy holders adopt a more measured approach.Metaplanet’s recent moves also include a broader corporate restructuring. The company established Metaplanet Income Corp., a $15 million subsidiary in Miami, and Bitcoin Japan Inc. to enhance its domestic presence. It plans to issue 385 million new shares, aiming to raise $1.44 billion to further expand its Bitcoin holdings.Outlook: BITCOIN Act and Treasury AdoptionInstitutional Bitcoin news may continue to dominate headlines as regulatory proposals progress. Early last week, the U.S. government hosted several crypto industry leaders at a roundtable on the BITCOIN Act, a bill proposing the U.S. Treasury acquire 1 million BTC over five years.If passed, the bill could mark a historic turning point in BTC's institutional adoption, setting a precedent for sovereign-level BTC reserves.