Metaplanet buys $451 million worth of bitcoin in Q4, CEO Gerovich says
Japanese firm Metaplanet acquired 4,279 BTC for $451.06 million in Q4, bringing its total holdings to 35,102 BTC.Summary
Japanese bitcoin treasury firm Metaplanet announced that it purchased 4,279 BTC during the fourth quarter for $451.06 million, according to CEO Simon Gerovich. This purchase brought the company's total bitcoin holdings to 35,102 BTC, accumulated at an average cost of $107,606 per bitcoin, totaling $3.78 billion.
Despite significant Q4 volatility in Bitcoin's price, Metaplanet's Q4 purchases are currently valued at about $374 million, representing a 17% discount to the amount spent. The downturn in crypto assets has negatively impacted Metaplanet's stock performance on both OTC Markets and the Tokyo exchange.
Metaplanet previously secured a $500 million credit facility to fund share buybacks and bitcoin purchases, noting that its BTC holdings provide substantial collateral coverage. The company's official website currently shows its market value relative to its BTC treasury (mNAV) at 1.02, indicating a slight premium.
(Source：The Block)