Metaplanet confirms $451m Bitcoin spend as treasuries ride crypto market price wave

Core Insights - Metaplanet, Japan's largest Bitcoin treasury, acquired $451 million worth of Bitcoin from October to December, raising its total holdings to $3.78 billion [1] - The firm reported a revenue of $55 million from its Bitcoin income business, surpassing expectations [1] Group 1: Company Performance - Metaplanet's average purchase price for Bitcoin was $105,412 per coin, with a total of 35,102 Bitcoin held, valued at approximately $3.3 billion [5] - The company plans to acquire 210,000 Bitcoin, representing 1% of the total supply, by 2027 [3] Group 2: Market Trends - Digital asset treasuries are seeing a resurgence, with Metaplanet's share price increasing by 21% in five days, attributed to rising crypto prices, including Bitcoin surpassing $93,000 [2] - Other Japanese digital asset treasuries have also experienced significant share price increases, with Convano rising over 16%, Remixpoint by 11%, and Gumi by 6% [4] Group 3: Industry Sentiment - Despite the positive market movements, experts express concerns about the long-term viability of digital asset treasury business models [2][3]