Metaplanet (3350), a Tokyo-listed investment and operating company specializing in Bitcoin money management, purchased an additional 4,279 Bitcoins Spending totaled $451 million in the fourth quarter, the company said in a post on X.
The average price of this purchase was $105,412, and the total purchase volume reached 35,102 BTC, ranking fourth among all listed companies. It aims to have 210,000 BTC by the end of 2027.
Metaplanet has currently spent approximately $3.78 billion, with an average purchase price of $107,607, according to the company’s dashboard. The company’s shares are up 8% this year, closing at 405 yen ($2.60). Still, they are down 80% from the all-time high hit in June.
The company has also built a Bitcoin income-generating business, using derivatives to generate recurring revenue 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 measure of a company’s enterprise value relative to its Bitcoin NAV, is calculated as market capitalization plus total debt divided by its Bitcoin NAV, which hovers above 1.