Japanese bitcoin treasury firm Metaplanet said it bought 4,279 BTC during the fourth quarter, according to an X post from CEO Simon Gerovich.
Purchase details
Gerovich said the company spent $451.06 million to acquire the bitcoin at an average price of $105,412 per BTC.
Metaplanet now holds 35,102 BTC accumulated at a combined cost of $3.78 billion, or an average price of $107,606 per bitcoin.
The company said in the post:
“Metaplanet has acquired 4,279 BTC during Q4.”
Price moves and valuation
Bitcoin saw heavy swings in Q4, dropping from an all-time high of $126,080 in early October to lows under $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 prices, Metaplanet’s Q4 purchases were valued at roughly $374 million, a 17% discount to the amount spent.
Its total bitcoin holdings were valued at about $3.06 billion.
Funding and stock performance
Metaplanet funded purchases through loans and new stock issuance during the quarter.
In October, it announced a $500 million credit facility, which it used for a share buyback program and to fund several bitcoin purchases.
Metaplanet’s U.S. shares (MTPLF) closed down 4.26% on Monday at $2.70, while its Tokyo-listed stock fell 7.95% to 405 yen on Tuesday.
The company’s website lists its mNAV at 1.02, indicating it is trading at a slight premium to its bitcoin holdings.
