Metaplanet, a Japanese Bitcoin treasury company, has purchased an additional 150 Bitcoin (BTC), bringing it one step closer to its plan of acquiring 21,000 BTC by 2026. The March 18 purchase cost an aggregate 1.88 billion yen ($12.6 million) or $83,671 per Bitcoin.
The purchase brings Metaplanet’s total holdings to 3,200 BTC worth $261.8 million at this time of writing. Despite this latest buy, Metaplanet’s stock price has fallen 0.5% on the day. On March 5, the company’s stock price jumped 19% after it announced its latest Bitcoin buy of 497 coins.
Metaplanet stock price change on March 18. Source: Google Finance
To date, Metaplanet has issued a little over 44 million common shares of company stock to fund its Bitcoin purchases. The use of stocks to raise money to buy Bitcoin has given the company the nickname “Asia’s MicroStrategy,” as the formula follows similar actions from Michael Saylor’s Strategy (formerly MicroStrategy).
Metaplanet’s BTC yield, a key perfor
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