Japanese investment firm Metaplanet Inc. announced that it has purchased an additional 107,913 BTC worth approximately 1 billion yen ($6.9 million).

- The purchase brings the company’s total Bitcoin holdings to 506,745 BTC, with a current market value of approximately $32.2 million.

- The Tokyo Stock Exchange-listed firm’s stock price rose 2.12% to 1,012 yen after the announcement 📈.

- Metaplanet sees Bitcoin as a hedge against economic instability by adopting it as a major part of its treasury reserves.

- The company plans to develop its Bitcoin trading, storage, and management infrastructure through a partnership with SBI Holdings.