Metaplanet (3350), a Tokyo-listed investment and operating company focused on bitcoin treasury management, purchased another 4,279 bitcoins. in the fourth quarter, spending a total of $451 million, he said in a post on X.
The purchase, at an average price of $105,412, brought its total to 35,102 BTC, the fourth largest of any publicly traded company. He aims to own 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, closing at 405 yen ($2.60). Still, they are down 80% from the all-time high they reached in June.
The company has also created a bitcoin income-generating 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 company’s multiple to net asset value (mNAV), a metric that measures the enterprise value of a company relative to its bitcoin net asset value, calculated as market capitalization plus total debt divided by bitcoin net asset value, sits just above 1.
