Metaplanet, based in Japan, has announced plans to acquire an additional ¥250 million (about $1.6 million) worth of Bitcoin. The company's board has approved this move, continuing its aggressive strategy of acquiring Bitcoin.

This purchase will significantly increase Metaplanet's Bitcoin holdings from the current 117.72 BTC, valued at ¥1.2 billion ($7.7 million).

Earlier this year, Metaplanet designated Bitcoin as a core treasury asset and committed to a Bitcoin-first and Bitcoin-only approach. It stated its intention to pursue various financial strategies to accumulate BTC instead of holding onto the weakening yen.

Metaplanet also outlined its Bitcoin management strategy. Bitcoin acquired for long-term investment will be recorded at its purchase cost, while short-term acquisitions will be revalued quarterly based on market value. Unrealized gains or losses from these short-term holdings will be reported under non-operating income, ensuring transparency and reflecting market changes accurately.

According to Google Finance data, Metaplanet's strategic focus on Bitcoin has significantly boosted its shares. Year-to-date, Metaplanet's shares have surged by 287%. Last week, its share price reached 93 Japanese yen, approaching a $1 billion market cap. Dylan LeClair, the director of Bitcoin strategy, highlighted this achievement, noting that Metaplanet has been Japan’s top-performing stock for two consecutive days.