Metaplanet has purchased an additional 1,111 Bitcoin for approximately ¥17.2 billion ($118.2 million), expanding its Bitcoin holdings amid growing corporate adoption of Bitcoin as treasury reserves.

According to a company filing on June 23, the Tokyo-listed firm acquired the Bitcoin at an average price of ¥15.5 million ($106,408) per coin. The purchase brings Metaplanet’s total holdings to 11,111 BTC, with an aggregate cost basis of ¥156.4 billion ($1.07 billion) at an average purchase price of ¥14.1 million ($95,869) per coin.

Corporate Bitcoin accumulation continues to accelerate globally. From Strategy’s 592,100 BTC to the Metaplanet’s 11,111 BTC, we’re seeing…

Read more on BitcoinMagazine