In its largest one purchase to day, Metaplanet purchases more bitcoin.

A well-known Chinese investment company that made headlines with its Bitcoin purchases has really acquired even more of the biggest cryptocurrency. &nbsp,

Metaplanet, which trades on the Tokyo Stock Exchange, announced Monday that it had bought 619.7 Bitcoin for a total of 9.5 billion yen ($ 60.5 million ) —its largest single purchase of the orange coin. &nbsp,

Only last week, Metaplanet announced that it would promote its Bitcoin purchases by issuing debt. As of Monday, it owned 1, 761.98 Bitcoins. That’s over$ 164 million in the biggest digital asset at today’s prices.

The business is attempting to imitate the business model used by American technology firm MicroStrategy, which began buying Cryptocurrency in 2020 as a bid to offer shareholders the best value for money. It now holds 444, 262 BTC—valued above$ 41 billion —following its latest buy. &nbsp,

By purchasing the property and allowing investors to gain publicity to it via its Nasdaq-listed stock, MicroStrategy works to securitize Bitcoin. &nbsp,

But in Japan, not everyone with exposure to Metaplanet might be happy with the company copying MicroStrategy: The company’s property dipped hard last week on information that the company would be a” Bitcoin bank” with a “responsibility as a trailblazer in the government’s Bitcoins ecosystem”.

Bitcoin is currently trading for$ 92, 625 per coin, a more than 3 % drop over 24 hours and a 13 % fall over a seven-day period, CoinGecko data shows. &nbsp,