Metaplanet (3350), a Tokyo-listed investment and operating company focused on bitcoin treasury management, bought an additional 4,279 bitcoin in the fourth quarter and spent a total of $451 million, said a post on X.
The purchase, at an average price of $105,412, took its total to 35,102 BTC, the fourth largest of any publicly traded company. It has a goal of owning 210,000 BTC by the end of 2027.
Metaplanet has now spent about $3.78 billion at an average purchase price of $107,607, according to the company’s dashboard. The company’s shares rose 8% this year to close at 405 yen ($2.60). Still, they are down 80% from the all-time high they hit in June.
The company has also built a bitcoin income generation business that uses derivatives to produce recurring income while supporting long-term bitcoin holdings. The company said it expects the unit to generate about $55 million in revenue for the full fiscal year.
The firm’s multiple to net asset value (mNAV), a metric that measures a company’s enterprise value relative to its bitcoin net worth, calculated as market capitalization plus total debt divided by bitcoin NAV, is hovering just above 1.
