Metaplanet's shares soared 17% after the Tokyo-based company announced the acquisition of 1,112 BTC, bringing its total Bitcoin holdings to 10,000, surpassing Coinbase Global's 9,267 BTC.
The purchase, worth $117.2 million, was made at an average price of $105,435 per Bitcoin, CEO Simon Gerovich revealed via X.
The company also revealed plans to issue $210 million worth of bonds, with proceeds going toward further Bitcoin acquisitions.
Investors responded enthusiastically, causing Metaplanet's shares to rise. The shares have soared more than 400% so far this year, reflecting growing confidence in its Bitcoin-focused strategy.