Metaplanet Resumes Bitcoin Buying Spree After 3-Month Pause, Holdings Reach 35,102 BTC

2025-12-31 11:20:57

Source: CoinEdition Original Title: Metaplanet Resumes Bitcoin Buying Spree After 3 Month Pause Original Link: https://coinedition.com/metaplanet-resumes-bitcoin-buying-spree-after-3-month-pause/

Q4 Bitcoin Accumulation Highlights

Metaplanet closed the year by returning to its Bitcoin accumulation spree, adding 4,279 BTC during the fourth quarter at a total acquisition cost of roughly $450 million.

The Tokyo-listed firm now holds 35,102 BTC on its balance sheet, valued near $3 billion at current market prices. The purchase was executed at an average price slightly above $105,000 per coin, ending a three-month pause that began in late September.

Strategic Pause and Market Conditions

During October, the company’s market NAV briefly dipped below parity, meaning its shares traded at a discount to the underlying BTC on its balance sheet.

According to CEO Simon Gerovich, the buy was not opportunistic, but a continuation of the firm’s long-term treasury mandate, which treats BTC as a central balance sheet asset.

Treasury Accumulation Resumes

The fourth-quarter buy marked Metaplanet’s first major accumulation since early October, when Bitcoin prices peaked. The pause represented the longest halt in the company’s acquisition program since launching its Bitcoin treasury model.

By year-end, the firm has resumed accumulation without compromising its capital stack. Its average Bitcoin cost basis now stands at $107,600 per coin. Metaplanet reported a quarterly BTC Yield of 11.9%, indicating an increase in BTC held per share. On a full-year basis, that figure reached more than 560%.

Bitcoin Income Strategy

Alongside accumulation, Metaplanet has leaned heavily into Bitcoin-based income generation through derivatives and options strategies. These operations are designed to generate recurring revenue using a separate pool of BTC, while leaving long-term holdings untouched.

For the fourth quarter of fiscal 2025, the company expects operating revenue from this segment to reach approximately 4.24 billion yen. Full-year revenue from the BTC income business is now projected at 8.58 billion yen, with growth following consistent scaling across quarters—revenue has expanded more than sixfold in the past year.

Under Japanese accounting standards, BTC allocated to this income strategy is treated as a current asset, with reported revenue indicating option premiums, realized gains, and valuation changes.

BTC-0,78%

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