A Japan-based company has increased its Bitcoin holdings, climbing higher in global rankings.
The company announced on Monday that it purchased 463 Bitcoin (BTC) at an average price of $115,895, bringing its total Bitcoin reserves to 17,595 BTC. The average purchase cost of its total Bitcoin holdings now stands at $101,422.
This latest acquisition closely follows the company's recent announcement of a significant capital raise plan. The CEO emphasized that issuing perpetual preferred shares would maximize long-term shareholder value and support their goal of steadily increasing Bitcoin holdings.
Following this move, the company climbed to seventh place globally by total Bitcoin holdings, while its shares experienced approximately a 4.7% decline. Meanwhile, Bitcoin prices saw a slight increase, trading at $114,714.
