Metaplanet (3350), a Tokyo-listed investment and operating company focused on Bitcoin cash management, purchased an additional 4,279 bitcoins. in the fourth quarter, spending a total of $451 million, he said in an article 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. His goal is to own 210,000 BTC by the end of 2027.
Metaplanet has now spent some $3.78 billion, for an average purchase price of $107,607, according to the company’s dashboard. The company’s shares have risen 8% this year, closing at 405 yen ($2.60). They are nevertheless down 80% compared to the historic peak reached in June.
The company has also created a Bitcoin revenue-generating business that uses derivatives to generate 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 net asset value multiple (mNAV), a metric that measures a company’s enterprise value relative to its bitcoin net asset value, calculated as market capitalization plus total debt divided by bitcoin’s net asset value, is hovering just above 1.
