Japanese investment advisor Metaplanet has made another significant investment in Bitcoin, purchasing approximately 108.8 BTC for around 1 billion yen (about $6.7 million). This recent acquisition has increased their total Bitcoin holdings to 639.5 BTC, valued at approximately $40.6 million based on current prices.

The firm disclosed that it bought the latest Bitcoin at an average price just under 9.2 million yen per coin. This brings Metaplanet's total expenditures on Bitcoin to just under 6 billion yen, purchasing the cryptocurrency at an average price of approximately 9.3 million yen per coin.

Metaplanet, listed in Tokyo, started adopting Bitcoin as a reserve asset back in May, aiming to safeguard against the volatility of the Japanese yen. This move has made it the second largest holder of Bitcoin among Asian listed companies, following Meitu, which holds around 941 BTC. Both companies trail behind MicroStrategy, which owns over 252,000 BTC, making it the largest publicly traded Bitcoin holder.

Recently, Metaplanet also began engaging in selling Bitcoin put options to use the generated premiums for further Bitcoin purchases. On October 3, this tactic earned the company a premium of 23.972 BTC (approximately $1.44 million). In response to these moves, Metaplanet's stock has surged by 7.9%, reaching 988 yen, reflecting over a 500% increase year-to-date.