Metaplanet remains committed to buying Bitcoin despite falling prices and stock declines

CEO of Metaplanet Simon Gerovich reaffirmed the strategy to continue buying Bitcoin despite the sharp decline in Bitcoin prices and the company’s stock.

The Tokyo-based company currently holds 35,102 BTC, worth approximately $2.5 billion. However, with an average purchase price of nearly $107,000 per BTC, Metaplanet is experiencing a significant unrealized loss and carries about $280 million in debt.

In a Friday post on X, Mr. Gerovich stated that Metaplanet will “continue to accumulate Bitcoin steadily, expand revenue, and prepare for the next growth phase,” while thanking shareholders for their continued support despite Bitcoin having fallen more than 47% from its October peak, with an additional 14% drop on Thursday.

Metaplanet’s stock also faced heavy pressure, closing the week at 340 yen, down about 82% from the peak of 1,930 yen in June. On Friday alone, the stock dropped another 5.6% following Bitcoin’s plunge.

Under the “555 Million Plan,” Metaplanet aims to increase its holdings to 100,000 BTC by the end of 2026 and 210,000 BTC by 2027. The company’s Bitcoin holdings have surged from 1,762 BTC at the end of 2024 to over 35,000 BTC currently.

Globally, Metaplanet is now the fourth-largest publicly traded company holding Bitcoin, after Strategy, MARA Holdings, and Twenty One Capital. At the end of January, Metaplanet also announced a plan to raise up to 21 billion yen through a new share issuance to fund additional Bitcoin purchases and debt reduction.