Japanese listed company Metaplanet has purchased 57 more bitcoins, bringing its total holdings to 36

Japanese investment company Metaplanet announced an additional investment of 500 million yen (approximately 3.4 million US dollars) to purchase 57.273 bitcoins, bringing the company's total holdings to 360.368.

Metaplanet disclosed in a statement that this purchase is part of its Bitcoin purchase plan announced on August 8th, when the company received a loan of 1 billion yen (approximately 6.8 million US dollars) and stated that it will be used to purchase more Bitcoin. Metaplanet represents:

With this purchase, we have completed a Bitcoin purchase plan worth 1 billion yen

The company started using Bitcoin as its strategic inventory reserve asset in May of this year and stated at the time that this move was a direct response to Japan's ongoing economic pressure, particularly high government debt, long-term negative real interest rates, and the resulting weakening of the yen.

According to data from Google Finance, the stock price of Metaplanet has risen by over 10% since its opening today.