Tokyo-headquartered investment firm Metaplanet has bolstered its Bitcoin reserves, acquiring 463 BTC during a market downturn.
The purchase, totaling $53.7 million, was executed at an average price of $115,895 per Bitcoin.
This strategic acquisition increases Metaplanet’s total holdings to 17,595 BTC, positioning the company as the world’s seventh-largest corporate holder of Bitcoin.
The move reinforces Metaplanet’s publicly stated goal of accumulating 210,000 BTC, equivalent to approximately 1% of Bitcoin’s total supply, by the year 2027.
Currently, the firm has achieved 8.4% of this substantial target.
To fund ongoing Bitcoin purchases, Metaplanet has announced plans to issue perpetual preferred shares worth $3.73 billion.
This funding strategy mirrors the aggressive Bitcoin accumulation approach pioneered by MicroStrategy.
Metaplanet’s expanding Bitcoin commitment occurs amidst a broader trend of increasing corporate adoption.
The number of public companies globally holding Bitcoin has risen significantly, climbing from 112 to 162 since late May.