Metaplanet, a Japanese investment firm, announced the purchase of nearly 107 Bitcoin, prompting a 15.7% increase in its share price, on Oct. 15.

This latest acquisition brings Metaplanet's total Bitcoin holdings to 855.5 BTC, valued at over $56.1 million based on current market rates.

The firm disclosed that it spent approximately $6.7 million, or 1 billion yen, on this latest transaction, acquiring Bitcoin at about $62,520 per coin, which is 5.8% lower than the prevailing market price of $66,200 at the time.

Prior to their announcement, Metaplanet's shares traded at 1,105 yen ($7.38) on the Tokyo Stock Exchange, reflecting a significant rise from its closing price on Oct. 14.

Since introducing its Bitcoin investment strategy in early April, Metaplanet’s stock has skyrocketed by 480%. The firm has doubled its Bitcoin holdings this month alone, following a series of earlier purchases, including 109 BTC on Oct. 11 and 108.8 BTC on Oct. 7.

Additionally, Metaplanet acquired a combined total of 132 Bitcoin in two transactions on Oct. 1 and 3, Bitcoin Treasuries data shows.

According to Bitcoin Treasuries, Metaplanet now ranks as the 23rd largest holder of Bitcoin among public companies. The firm has invested a total of $53.2 million in Bitcoin, resulting in a 5.4% increase in the value of its holdings.

Metaplanet's CEO, Simon Gerovich, has cited inspiration from MicroStrategy and its chairman, Michael Saylor, as a guiding force behind the company's investment strategy.

In May, the firm announced plans to employ various capital market instruments to expand its Bitcoin reserves, including a $6.8 million loan from a shareholder earlier this year.