worldcoinindex.com
Japanese bitcoin treasury firm Metaplanet revealed that it significantly expanded its bitcoin position during the fourth quarter, adding 4,279 BTC to its balance sheet despite sharp swings in the crypto market.
The company disclosed that it deployed $451.06 million over the quarter to acquire bitcoin at an average cost of $105,412 per coin. With the latest purchases, Metaplanet’s total holdings have climbed to 35,102 BTC, accumulated at an overall cost of $3.78 billion, or roughly $107,606 per bitcoin.
The buying spree unfolded during a turbulent period for bitcoin. Prices fell rapidly from an all-time high near $126,080 in early October to below $85,000 within weeks. At the time of writing, bitcoin was trading around $87,400, down 2.4% over the past 24 hours.
At current market prices, Metaplanet’s fourth-quarter bitcoin purchases are valued at approximately $374 million — about 17% less than what the company paid. Overall, its bitcoin treasury is now worth an estimated $3.06 billion.
The broader crypto downturn also weighed on companies holding digital assets on their balance sheets. Metaplanet’s U.S.-traded shares (MTPLF) closed 4.26% lower on Monday at $2.70, far below their yearly peak above $15 in May. In Tokyo, the firm’s locally listed stock dropped 7.95% on Tuesday to close at 405 yen.
To support both shareholder value and its bitcoin strategy, Metaplanet earlier announced a $500 million credit facility in October. The financing has been used for share buybacks as well as multiple bitcoin purchases. The company has also raised funds through new share issuances to overseas investors.
Metaplanet has previously emphasized that its bitcoin reserves provide strong collateral coverage for its borrowing, with internal limits designed to maintain buffers even during periods of extreme price volatility. As of now, the company’s reported mNAV stands at 1.02, indicating that its stock is trading at a slight premium relative to the value of its bitcoin holdings.