Tokyo-based investment firm Metaplanet Inc. announced on Monday it has purchased an additional 619.7 Bitcoin, spending approximately $58.9 million at current market rates.

This acquisition brings the firm's total Bitcoin holdings to 1,761.98 BTC, valued at around $167.1 million.

The latest purchase follows Metaplanet's recent bond issuance, which raised nearly 9.5 billion yen ($60.6 million). The company indicated that the funds would be used to expedite further Bitcoin acquisitions. The average purchase price for the latest batch of Bitcoin was reported at 15.3 million yen ($97,786) per coin.

Metaplanet has been increasing its Bitcoin investments since it first adopted the cryptocurrency as a strategic treasury reserve asset in May.

This ongoing buying trend aligns with the firm’s bullish outlook on Bitcoin, which remains the largest cryptocurrency by market capitalization.

In the broader market, Bitcoin experienced a 1% drop in value over the past 24 hours, trading at $95,221. Meanwhile, Ether also saw a decline, losing 1.2% to settle at $3,292. The Block’s GMCI 30 Index , which tracks the performance of the top 30 crypto, fell by 0.93% during the same timeframe.

As of now, MicroStrategy retains the title of the largest public corporate holder of Bitcoin, with a reported 439,000 BTC in its possession, according to information from BitcoinTreasuries.