Japanese firm Metaplanet said earlier Tuesday it had purchased an additional 107 bitcoin (BTC), worth $6.9 million at current prices, at an average price of 9.26 million yen ($64,168) per BTC.

The firm had arranged a $6.8 million loan in early August to add to its existing BTC coffers, as reported. The Tokyo-based company said it borrowed the money from shareholder British Virgin Islands-based MMXX Ventures "with the entire amount allocated for purchasing bitcoin.”

In May, Metaplanet adopted bitcoin as a strategic reserve asset and a hedge against Japan's debt burden and the resulting volatility in the yen. It started buying bitcoin in April with initial transactions of 117.7 BTC, or $7.19 million at the time.

The firm now holds over 500 BTC and is the largest holder among publicly-traded Asian firms after Hong Kong-based Meitu, Bitcoin Treasuries data show. The holdings were accumulated at an average price 9,373,557 yen per Bitcoin, or $64,931.

Meanwhile, the move has helped bump the company’s stock prices, bringing a market capitalization to holdings ratio to joint highest of 20% on Tuesday.

Share price have increased by over 420% since the firm’s April purchases, while bitcoin is down 3%. The increase of bitcoin per share monthly continues to be accretive for shareholders.

(CoinDesk's James Van Straten contributed insights to this story.)