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Metaplanet, the largest publicly listed bitcoin holder in Asia, is currently facing significant losses, with its average acquisition cost per bitcoin approximately $107,000.
Metaplanet has stated it will persist with its bitcoin strategy despite the current conditions in the cryptocurrency market. (CoinDesk)
Key points:
- Metaplanet’s CEO Simon Gerovich reiterated the firm’s dedication to acquiring bitcoin, even amid a significant decline in both the cryptocurrency’s value and the firm’s stock.
- The Tokyo-based entity presently possesses 35,102 bitcoins valued at approximately $2.5 billion, and with an average purchase price close to $107,000 per coin, it is experiencing considerable unrealized losses alongside around $280 million in debt.
- With its “555 Million Plan,” Metaplanet aims to expand its holdings to 100,000 bitcoins by the close of 2026 and 210,000 by 2027.
Simon Gerovich, CEO of Metaplanet (3350), reaffirmed the company’s bitcoin acquisition strategy even as shares in the largest publicly traded bitcoin holder in Asia declined.
In a post made on Friday via X, Gerovich indicated that Metaplanet would “consistently continue to gather bitcoin, enhance revenue, and get ready for the next growth phase.” He expressed gratitude to shareholders who have maintained their support for the company despite the downturn in bitcoin’s value: The leading cryptocurrency has diminished by over 47% from its peak in October and dropped 14% just on Thursday.
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Metaplanet’s stock performance has struggled alongside bitcoin, finishing the week at 340 yen ($2.16) after plummeting approximately 82% from a peak of 1,930 yen in June. On Friday, the stock decreased by 5.6% following bitcoin’s decline after Asian trading hours the previous day.
The Tokyo-based company’s “555 Million Plan” aspires to achieve 100,000 BTC by the end of 2026 and 210,000 BTC by 2027. Its bitcoin holdings have escalated from 1,762 BTC at the conclusion of 2024 to 35,102 BTC presently, valued at around $2.5 billion at current market prices.
The investment is significantly under water, with an average acquisition price of approximately $107,000 per bitcoin, as indicated on its analytics page, and a current price of $66,270. The company carries roughly $280 million in outstanding debt, according to the dashboard.
On a global scale, Metaplanet ranks as the fourth-largest publicly traded bitcoin holder. Strategy Inc. (MSTR) holds the top position with 713,502 BTC, followed by MARA Holdings (MARA) at second with 53,250 BTC, and Twenty One Capital (XX1) in third with 43,514 BTC, as per bitcointreasuries.net.
Metaplanet announced on January 29 its intent to raise up to 21 billion yen to finance further bitcoin acquisitions and reduce debt. The company plans to secure these funds by selling 24.53 million new common shares at 499 yen each, along with stock warrants targeted at select investors.
