Japanese investment firm Metaplanet announced a $2.5 million purchase of Bitcoin (CRYPTO:BTC), bringing its total holdings to 203,734 BTC at an average price of $62,000 per coin.

Despite Bitcoin's price drop, Metaplanet remains committed to its strategy, which began in April 2024 with a $6.5 million investment.

The firm's aggressive buying has earned it the nickname "Asia’s MicroStrategy."

Metaplanet’s stock surged 90% following the initial announcement but later dropped 25% as Bitcoin fell below $60,000.

Despite this, the stock is still up 344% from the start of 2024.

In June, Metaplanet also announced plans to issue $6.26 million in bonds to fund further Bitcoin purchases.