Metaplanet reaffirms aggressive BTC strategy amid stock market declines, unrealized losses

Metaplanet is pressing ahead with its Bitcoin accumulation strategy despite the market cooldown that briefly took the coin to a 12-month low of $62,000. Bitcoin was trading near $66,000 at press time, down more than 47% from its all-time high reached just four months ago.

The Tokyo-listed company’s chief executive, Simon Gerovich, told investors through a post on X that “there is no change from the treasury’s Bitcoin accumulation strategy.”

“We are fully aware that, given the recent stock price trends, our shareholders continue to face a challenging situation…We will steadily continue to accumulate Bitcoin, expand revenue, and prepare for the next phase of growth, ” Gerovich’s translated statement read. 

Metaplanet CEO calls for calm as company shares drop 5.56%

Metaplanet’s shares closed Friday down 5.56% on the Tokyo Stock Exchange at 340 yen. The stock has fallen 18.27% over five days and is down 33.33% over the past month, according to data from Google Finance. Even with losses piling up, the company has promised to continue buying Bitcoin.

The Japan-based digital asset treasury firm is the fourth-largest public corporate holder of Bitcoin globally, trailing only Strategy, MARA Holdings, and Twenty One Capital, per Coingecko data. Metaplanet held 35,102 BTC on its balance sheet at the time of this publication.

The company significantly expanded its holdings during the final quarter of 2025, purchasing $451 million in Bitcoin. According to BitcoinTreasuries.Net, Metaplanet’s average purchase price is $107,716 per Bitcoin, which places the firm at an unrealized loss of about 39% at current prices.

BTC’s dreadful price performance since last October has caused losses for every corporate holder, with the software business Strategy taking the largest slice of the stale cake. 

The world’s largest public Bitcoin holder reported a $12.4 billion net loss in last year’s fourth quarter. The profit shedding came from Bitcoin’s price slump below the firm’s average purchase price of $76,052.

Strategy’s shares dropped 17% following its earnings call on Thursday, but the company’s lead, Michael Saylor, said there are no major debt maturities scheduled before 2027.

Metaplanet’s management trusts Bitcoin will perform in 2026

As covered by Cryptopolitan last week, CEO Gerovich confirmed that Metaplanet completed an equity financing round that raised 12.2 billion yen, or about $79.5 million, through a share issuance. He mentioned the firm could also collect up to $137 million when stock acquisition rights are included.

The financing included the issuance of 24.53 million new shares at a 5% premium. Metaplanet also issued 25th Series warrants with a 15% premium on future capital inflows that, if exercised, could generate an additional 8.8 billion yen, or $57.3 million.

The warrants have a defined exercise period, exercisable between February 16, 2026, and February 15, 2027. 

Gerovich’s statement was against the backdrop of a formal company notice released earlier in the day. That notice detailed the issuance of new shares and stock acquisition rights, conducted through a third-party allotment structure, which its board approved in late January.

According to the notice, about 14 billion yen, or $91.2 million, is earmarked for the acquisition of more Bitcoins. “The acquisition of additional Bitcoin is expected to strengthen the company’s financial foundation and enhance its value preservation function under macroeconomic conditions characterized by fiat currency depreciation and inflationary pressures,” the company said.

Earlier this week, the Tokyo-listed firm revised its full-year fiscal 2025 forecast and released its outlook for fiscal 2026. The revenue for fiscal 2025 reached 8.9 billion yen, exceeding an earlier prediction of 6.8 billion yen by 31%. Meanwhile, operating income went up 34% to 6.3 billion yen during the same period.

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