Japan's Metaplanet Inc. has announced the purchase of an additional 57,273 Bitcoins, valued at approximately $3.4 million.
The acquisition brings the total number of Bitcoins held by the company to 360,368, cementing its position as a major corporate holder of the world's largest cryptocurrency.
The latest purchase aligns with Metaplanet's strategy of using Bitcoin as a strategic cash reserve asset.
This approach was initiated in May in response to Japan's economic challenges, including high government debt, persistently low interest rates and a weak yen.