Japanese bitcoin treasury firm Metaplanet has purchased an additional 775 BTC worth roughly $93 million, reaffirming its strong bet on the world’s largest cryptocurrency. The company’s president, Simon Gerovich, confirmed the acquisition on X, noting that the purchase was made at an average price of $120,006 per bitcoin. This brings Metaplanet’s total holdings to 18,888 BTC, valued at nearly $1.94 billion.

The Tokyo-based firm, which began its bitcoin accumulation strategy in April 2024, now ranks seventh globally among major corporate holders, according to Bitcointreasuries data. Despite recent market volatility, Metaplanet reported strong second-quarter results, with revenue rising 41% quarter-on-quarter to 1.2 billion yen ($8.4 million) and net income swinging to a profit of 11.1 billion yen ($75.1 million).

Metaplanet shares, however, faced pressure, falling 8.6% on Friday before edging up slightly Monday. Gerovich reassured investors, highlighting recurring bitcoin income growth over three straight quarters. “This recurring income adds resilience and supports further accumulation,” he said, stressing the company’s long-term commitment to bitcoin.