Metaplanet, the Japanese enterprise that has positioned itself as a notable corporate user of Bitcoin, is beginning to face slight losses on its investments.
This situation arises as the value of the cryptocurrency has dipped to its lowest point in more than three months.
During the last week, Bitcoin has been experiencing a significant decline, with weekly losses reaching 18.2%. Indeed, today, its price fell to intra-day lows beneath $80,000, hitting levels last recorded in November 2024.
As of the latest update, BTC was valued at $80,462 after a 6.5% decline in the previous 24 hours. The overall cryptocurrency market was also experiencing a downturn, with the total market capitalization decreased by 7.7%.
For Metaplanet, which has an average acquisition cost of $81,458 per Bitcoin, these volatility trends pose a challenge. According to the most recent statistics from BitcoinTreasuries, Metaplanet faces a 2.0% loss on its Bitcoin holdings.
The firm currently possesses 2,235 BTC, estimated at $179.54 million. This constitutes a considerable 20.9% of the organization’s total market valuation.
The financial obstacles extend beyond its cryptocurrency assets. Metaplanet’s stock has also suffered a significant decline.
“Metaplanet (3350 JP) has now decreased by 54% since its peak,” BitMex Research pointed out.
Nevertheless, BitMex underscored that Metaplanet’s stock price remains considerably higher than the worth of the Bitcoin it secures. Meanwhile, as reported by Yahoo Finance, Metaplanet shares fell by 17.4% today, closing at ¥3,310 (approximately $22).
In spite of the downturn, Metaplanet has continued to affirm its dedication to BTC. On February 27, the company issued ¥2 billion (around $13.3 million) in zero-interest bonds for the purpose of acquiring Bitcoin. This represented its seventh bond issuance for that objective. These bonds are slated for redemption on August 26, at their face value.
This action aligns with Metaplanet’s 2025 strategy. The organization aims to amass 10,000 BTC by the conclusion of the year.
“The market has recognized Metaplanet as Tokyo’s leading Bitcoin enterprise, and we are harnessing this momentum to strengthen our position as a global frontrunner. Our vision is to spearhead the Bitcoin revival in Japan and become one of the largest corporate Bitcoin holders worldwide. This initiative is our promise to that future,” stated Metaplanet’s CEO Simon Gerovich.
Metaplanet’s ambitious plan Bitcoins
Metaplanet’s ambitious plan surpasses 2025, aiming to gather 21,000 BTC by the end of 2026. The initiative is branded as the “21 Million Plan.”
This program entails the issuance of 21 million shares via moving strike warrants. It constitutes Asia’s largest-ever equity capital raise for BTC, with a funding target of ¥116.65 billion ($785 million).
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