Metaplanet Spends $451 Million on 4,279 Bitcoin in Q4

Bitcoin Magazine

Metaplanet Spends $451 Million on 4,279 Bitcoin in Q4

Metaplanet added 4,279 bitcoin during the fourth quarter of this year, spending about $451 million and lifting its total holdings to 35,102 BTC, the company said Tuesday.

The purchase reinforces the Tokyo-listed firm’s position as one of the largest corporate bitcoin holders in Asia and the fourth largest among publicly traded companies globally.

The bitcoin was acquired at an average price of $105,412 per coin, according to the company. Metaplanet has now spent roughly $3.78 billion accumulating bitcoin at an average cost of about $107,600. 

The firm has set an ambitious target of owning 210,000 BTC by the end of 2027, a goal that implies continued reliance on capital markets and credit facilities to fund future purchases.

Metaplanet’s shares ended the year up about 8% at 405 yen, though they remain far below the peak reached in June, when the stock traded near all-time highs. 

The gap reflects both the volatility of bitcoin prices and investor unease around balance sheets that are tightly linked to a single asset. For shareholders, the strategy offers leverage to bitcoin’s upside while exposing the company to drawdowns that can move faster than operating income.

Metaplanet’s bitcoin accumulation via consistent revenue 

Unlike some bitcoin treasury firms, Metaplanet has paired accumulation with a separate income generation business built around derivatives. The unit aims to produce recurring revenue while supporting long-term bitcoin holdings. 

The company expects this business to generate around $55 million in revenue in the coming fiscal year, a figure that helps frame its strategy as more than passive holding.

During the quarter, Metaplanet reported a BTC Yield of 11.9%, a metric it uses to measure bitcoin accretion on a per-share basis. 

Year to date, the company reported BTC Yield of more than 500%, helped by rising bitcoin prices and the pace of purchases. 

The fourth-quarter buying spree followed a pause that began in late September, the longest break in Metaplanet’s acquisition program since it adopted a bitcoin treasury strategy. 

Funding for recent purchases has included bitcoin-backed credit facilities totaling about $280 million and the issuance of Class B preferred shares convertible into common stock. 

The company said proceeds from the preferred share sale will be used largely to buy more bitcoin, with a portion set aside for yield strategies and bond redemptions.

Bitcoin currently trades at $88,590, up 1% on the day, with $36 billion in volume and a $1.76 trillion market cap as it hovers near recent weekly highs.

This post Metaplanet Spends $451 Million on 4,279 Bitcoin in Q4 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.