Japanese investment firm Metaplanet has once again purchased additional bitcoin, this time investing $12.9 million to acquire the top cryptocurrency and continue its accumulation strategy.
The Tokyo-listed firm announced on Tuesday that it purchased an additional 135 BTC at an average price of 14.3 million yen ($95,951) per bitcoin, totaling 1.9 billion yen ($12.9 million).
The company's latest bitcoin acquisition boosted its total holdings to 2,235 BTC, up from 1,761 BTC at the end of last year and 141 BTC at the end of June 2024.
Metaplanet officially designated its bitcoin treasury operations as a core business line in December after announcing its bitcoin accumulation strategy in April. The firm aims to hold 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026.
Metaplanet's stock was down 1.3% as of the lunch break in Japan on Tuesday. It is still trading during the afternoon session. The stock price has risen 67.5% since the beginning of this year and climbed 233.7% over the past year, according to Google Finance.
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