Metaplanet, a Bitcoin treasury firm based in Japan, has acquired an additional 150 Bitcoin (BTC), edging closer to its goal of amassing 21,000 BTC by 2026. The purchase made on March 18 amounted to 1.88 billion yen ($12.6 million), translating to $83,671 for each Bitcoin.
This latest acquisition increases Metaplanet’s total Bitcoin holdings to 3,200 BTC, valued at approximately $261.8 million as of this writing. Despite this addition, Metaplanet’s stock price declined by 0.5% for the day. On March 5, the company’s stock surged by 19% following the announcement of its previous purchase of 497 Bitcoin.
Changes in Metaplanet’s stock price on March 18. Source: Google Finance
So far, Metaplanet has issued over 44 million common shares to finance its Bitcoin acquisitions. This strategy of leveraging stock to generate capital for Bitcoin purchases has earned the company the nickname “Asia’s MicroStrategy,” due to its alignment with tactics previously employed by Michael Saylor’s enterprise.
Metaplanet’s BTC yield, a crucial metric reflecting the percentage change in total BTC holdings relative to fully diluted shares available, currently stands at 60.8% for the quarter running from January 1, 2025, to March 18, 2025. This is a decrease compared to the previous quarter, which reported a yield of 310%.
Related: Metaplanet’s Bitcoin purchases and plans for a potential US listing
The March 18 acquisition positions Metaplanet as the 11th-largest corporate holder of Bitcoin globally and the largest within Asia, according to data from Bitgo.
Metaplanet’s Ambitious BTC Goal Captures Investor Attention
Following Metaplanet’s announcement to establish itself as a Bitcoin treasury, its stock price skyrocketed by 4,800% as of February 10. Although the stock has since dropped 34% to 4,030 yen ($26.9) since February 19, it remains significantly above the 150 yen ($1) benchmark recorded on March 19, 2024.
Related: Japan urges Apple and Google to eliminate unregistered crypto exchange apps
Metaplanet’s rise occurs alongside a more favorable stance toward digital currencies in Japan. On March 6, the governing party proposed reducing crypto capital gains taxes by 20%. Additionally, in November 2024, the government enacted a stimulus package aimed at crypto tax reforms.
Japanese lawmaker Satoshi Hamada has requested the government to consider establishing a strategic Bitcoin reserve, suggesting a conversion of a portion of its foreign currency reserves into BTC.
However, Japanese Prime Minister Shigeru Ishiba later remarked that the government lacks sufficient knowledge about international plans, which complicates their ability to form an opinion on this issue.
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