Source: Cointelegraph Original: "{title}"

Metaplanet is a Japanese Bitcoin reserve company that has additionally purchased 150 Bitcoins (BTC), making progress towards its plan to acquire 21,000 Bitcoins by 2026. The purchase on March 18 totaled 1.88 billion yen (approximately 12.6 million USD), with each Bitcoin priced at 83,671 USD.

As of the writing of this article, this purchase brings Metaplanet's total Bitcoin holdings to 3,200, with a total value of 261.8 million USD. Despite this latest acquisition, Metaplanet's stock price still fell by 0.5% on that day. After announcing the latest purchase of 497 Bitcoins on March 5, the company's stock price had surged by 19%.

Metaplanet's stock price changes on March 18. Source: Google Finance

So far, Metaplanet has issued slightly more than 44 million shares of common stock to fund its Bitcoin purchases. The company's practice of raising funds through stock issuance to buy Bitcoin has earned it the title of "Asian MicroStrategy," as this model is similar to the actions taken by Michael Saylor's Strategy (formerly known as MicroStrategy).

Metaplanet's Bitcoin yield is a key performance indicator that shows the percentage change in total Bitcoin holdings relative to fully diluted shares outstanding. For the quarter from January 1 to March 18, this yield was 60.8%. This change is less than the previous quarter, which had a yield of 310%.

According to Bitgo, after purchasing Bitcoin on March 18, Metaplanet became the 11th largest company by Bitcoin holdings and the largest holder of Bitcoin in Asia.

Metaplanet's plan to acquire 21,000 Bitcoins has sparked investor interest.

After announcing its plan to become a Bitcoin reserve company, Metaplanet's stock price surged by 4,800% as of February 10. Although its stock price has since fallen by 34% since February 19, down to 4,030 yen (approximately 26.90 USD), it remains well above its price of 150 yen (approximately 1 USD) on March 19, 2024.

According to a report from the company, Metaplanet's shareholder base grew by 500% in 2024, with 50,000 individuals or entities investing in the company. According to data from Stock Analysis, its market capitalization increased by 9,652% within a year.

Metaplanet's rise comes at a time when Japan's attitude towards digital assets has softened. On March 6, Japan's ruling party took action to reduce the cryptocurrency capital gains tax by 20%. In November 2024, the Japanese government passed an economic stimulus plan promising cryptocurrency tax reforms.

Japanese lawmaker Satoshi Hamada had previously urged the government to consider establishing a strategic Bitcoin reserve and converting part of its foreign exchange reserves into Bitcoin.

However, Japanese Prime Minister Shigeru Ishiba later responded that the Japanese government lacks sufficient understanding of other countries' plans, making it difficult for the government to comment on the issue.

Related: South Korea Approaches Bitcoin ETF Decision, Drawing on Japanese Model

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