Tokyo-based Metaplanet has made a sweeping move in the cryptocurrency market by acquiring over $451 million worth of Bitcoin in the last quarter of 2025. According to the firm’s released data, these acquisitions were funded through credit facilities and the issuance of new shares. This strategic decision comes during a period marked by substantial market instability, drawing attention to the company’s financial strategies and stock trajectory.
How Did Metaplanet Acquire Bitcoin?
CEO Simon Gerovich unveiled details regarding the scale of Bitcoin purchased by Metaplanet in the fourth quarter. The company added 4,279 BTC to its reserves, spending about $451.06 million. Each Bitcoin was acquired at an average cost of $105,412, thereby increasing Metaplanet’s total Bitcoin inventory to 35,102 BTC.
In total, their Bitcoin assets are worth approximately $3.78 billion, with an average acquisition cost sitting at $107,606 per Bitcoin. The purchases were financed by credit lines and new share sales aimed at international investors. A $500 million credit line initiated in October was pivotal for their Bitcoin acquisition and stock repurchase efforts. Management stressed maintaining conservative borrowing to ensure adequate collateral, even amidst unpredictable price changes.
How Are Market Trends Impacting Metaplanet?
The last quarter witnessed significant fluctuations in Bitcoin prices. The cryptocurrency’s value plummeted from a high of $126,080 in October to under $85,000 within a few weeks. Currently, Bitcoin trades at around $87,400, marking a 2.4% dip within 24 hours. In light of these market conditions, Metaplanet’s latest Bitcoin purchases are roughly valued at $374 million, which is a 17% markdown compared to their expenditure.
The downturn in Bitcoin prices and other major cryptocurrencies has also exerted downward pressure on crypto treasury-related stocks. On the US OTC Markets, Metaplanet’s shares, denoted by the symbol MTPLF, concluded the week at a 4.26% decline, priced at $2.70. Meanwhile, its Tokyo Stock Exchange shares witnessed a steep 7.95% drop to 405 yen. Company data suggests the market is attributing a minor premium to Metaplanet’s Bitcoin holdings, given a mNAV ratio of 1.02.
Concrete insights from Metaplanet’s recent activities include:
- Purchased 4,279 BTC in Q4 2025.
- Average purchase price per Bitcoin was $105,412.
- Total Bitcoin holdings increased to 35,102 BTC.
- The mNAV ratio implies modest market premium.
“We have strategically expanded our Bitcoin assets while cautiously managing financial risks,” said a spokesperson from Metaplanet. “Our approach ensures a fortified balance amid fluctuating market sentiments.”
