Metaplanet bought 780 more bitcoin, bringing its total holdings to 17,132 BTC ($2 billion). The Japanese company made its latest purchase at an average price of 17.5 million yen ($118,176) per coin.

Global stock indexes advanced on Monday, with U.S. stocks rallying more than 1% after recent sharp declines, while the yen rose to a two-week high against the dollar.

On July 22, the company announced that it had bought 20.38 BTC at an average price of 9,813,061 ($62,574) yen per Bitcoin. Overall, the firm spent about $1.2 million on the latest purchase.

In January 2018, another Japanese banking giant — Mitsubishi UFJ Financial Group, the world’s fifth-largest bank — unveiled its own plans to launch a yen-pegged stablecoin, dubbed MUFG Coin.