Metaplanet of Japan announced on Tuesday that it bought 135 Bitcoins worth $13 million to increase its Bitcoin holdings. The firm decided to buy 135 Bitcoins just before Bitcoin prices hit their lowest point in three months to demonstrate its long-term investment motive.

The Tokyo Stock Exchange company under symbol 3350 (TYO: 3350) bought its most recent Bitcoin holding at an average price of ¥14,360,449 ($96,185) each.

With this new purchase the company now holds 2,235 BTC which has an estimated value of $196 million based on today”s Bitcoin prices. The purchase occurred at an awkward moment because Bitcoin value decreased below $91,000 by noon in Japan before hitting $88,000.

BTC Yield Growth Supports Q1 Targets

The overall value of Metaplanet”s Bitcoin holding still goes up despite its recent market losses. The company implemented its Bitcoin accumulation plan in April last year and has achieved 12% survival profits.

Based on February 25th results Metaplanet predicted they would achieve 35% Q1 Bitcoin targets because its BTC Yield indicator showed 23.2% growth. After the announcement Metaplanet stock performance decreased when it lost 3.22% of its value closing at ¥6,010 ($40.13).

The organization insists on progressing towards its growth goals by striving to raise its Bitcoin holdings by 470% by 2025. Metaplanet wants to buy 10,000 BTC by 2025 and double its holdings to 21,000 BTC by 2026. The company funds this Bitcoin purchase with both stock token deals and bond releases.

Metaplanet Expands Bitcoin Holdings Amid Market Dip

After introducing Bitcoin into corporate treasury operations since December the firm builds up more Bitcoin holdings. The money Metaplanet pays for each Bitcoin sits at ¥12,441,856 ($81,834) making its Bitcoin position strong even during market ups and downs.

As a rival to MicroStrategy the company holds 0.01% of all available Bitcoin. Through its “21 Million Plan” Metaplanet has raised ¥7.13 billion ($47.7 million) to buy Bitcoin which equals 5.5% of its planned target amounts.

Metaplanet demonstrates its strong support for Bitcoin through its steady purchasing behavior which confirms its positive long-term view on cryptocurrency as a fundamental part of its business plan. The market will now assess whether the Bitcoin purchase was a wise decision before providing its judgment.