Tokyo-based firm Metaplanet has increased its Bitcoin holdings by purchasing an additional 2,205 BTC, bringing its total stash to 15,555 BTC valued at $1.7 billion.
The CEO, Simon Gerovich, mentioned that the newly acquired coins cost $238.7 million, averaging $108,237 per Bitcoin, resulting in a 15.1% weekly rise in BTC Yield for the company.
Metaplanet's strategic accumulation of Bitcoin is part of efforts to leverage it as a core treasury asset amidst growing institutional interest in crypto, and the market responded positively with a modest uptick in the company's stock.
The company's aggressive purchasing has propelled it into the top five global Bitcoin holders, ranking behind major players like Strategy, MARA Holdings, XXI, and Riot Platforms, according to data from Bitcointreasuries.net.