The Japanese hotel and investment firm Metaplanet has gobbled up another $115.6 million worth of Bitcoin (BTC).

The firm announced over the weekend that it had acquired another 1,088 Bitcoin, bringing its total holdings to 8,888 BTC.

With Bitcoin trading at $106,309 at time of writing, that means Metaplanet now holds nearly $945 million worth of the top crypto asset. The Japanese firm’s stock is up 263.48% year-to-date.

Metaplanet chief executive Simon Gerovich says the firm’s 8,888 BTC are a “symbol of abundance” and a “number of fortune.” The CEO has said previously that he “worries every day” that the company doesn’t own enough Bitcoin.

“The window to buy won’t stay open forever. Soon, there will be two kinds of people: those who own Bitcoin and those who regret not buying it. At Metaplanet, we’re accumulating as much as we can so our shareholders can relax.”

Gerovich also said earlier this year that he thinks more financial institutions will show interest in adopting BTC. Metaplanet aims to acquire 10,000 Bitcoin by the end of 2025 and 21,000 BTC by the end of 2026.

The firm, which is the 11th-largest corporate holder of BTC, also continues to operate a Tokyo hotel, which it plans to renovate and rebrand into “the Bitcoin Hotel.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The Japanese hotel and investment firm, which saw its stock price surge by around 2,600% over the past year amid its Bitcoin pivot, is continuing to accumulate BTC.

In a published statement, Metaplanet says it increased its BTC stack as part of its ongoing Bitcoin Treasury operations.

Metaplanet CEO Simon Gerovich says the company bought 497 BTC worth $43.9 million at an average price of $88,448 per Bitcoin.

The recent acquisition brings the company’s total Bitcoin holdings to 2,888 BTC, valued at around $263.53 million based on the flagship crypto asset’s current price of $91,249.

Gerovich says Metaplanet spent a total of $240.2 million for its Bitcoin hoard or $83,172 per BTC. The company has so far achieved a BTC yield of 45.1% year-to-date (YTD).

The publicly traded company’s share price jumped after the recent Bitcoin acquisition. At time of writing, Metaplanet’s stock is trading for 4,655 Japanese Yen ($31.22), up by around 40% over the past five days.

Gerovich says Metaplanet is aggressively buying Bitcoin for the benefit of its investors.

“I worry every day that we don’t own enough Bitcoin. The window to buy won’t stay open forever. Soon, there will be two kinds of people: those who own Bitcoin and those who regret not buying it. At Metaplanet, we’re accumulating as much as we can so our shareholders can relax.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney