Metaplanet (3350), an investment and operating firm listed in Tokyo with a focus on bitcoin treasury management, has acquired an additional 4,279 bitcoin during the fourth quarter, totaling $451 million, as stated in a post on X.
This purchase, averaging $105,412 per bitcoin, brings its total to 35,102 BTC, making it the fourth largest holding of any publicly traded company. Their goal is to possess 210,000 BTC by the end of 2027.
Metaplanet has now invested approximately $3.78 billion, at an average cost of $107,607 per BTC, according to the company’s dashboard. Their shares have increased by 8% this year, closing at 405 yen ($2.60), but are still down 80% from the peak reached in June.
Additionally, the firm has developed a bitcoin income generation arm that utilizes derivatives to create ongoing revenue while supporting long-term bitcoin investments. The company anticipates this unit will yield around $55 million in revenue for the full fiscal year.
The firm’s multiple to net asset value (mNAV), which gauges a company’s enterprise value in relation to its bitcoin net asset value—calculated as market capitalization plus total debt divided by bitcoin NAV—stands just above 1.
