Metaplanet pushed forward with its Bitcoin strategy on Tuesday by announcing a fresh purchase worth more than $451 million. The move came during a period of falling crypto prices and a sharp decline in the company’s stock.
In the fourth quarter of 2025, the company revealed that it had purchased Bitcoin. The announcement followed an almost 8% drop in Metaplanet shares, which closed at 405 JPY.
According to the official release dated December 30, Metaplanet purchased 4,279 Bitcoin. The average acquisition price stood at $105,412 per coin.
The latest purchase lifted the company’s total Bitcoin treasury to 35,102 BTC. At current market prices, those holdings are valued at more than $3 billion.
Metaplanet completes share issuance and revenue outlook
Metaplanet has now spent close to $3.78 billion on Bitcoin purchases since launching its treasury strategy. The overall average purchase price across its holdings is $107,606 per Bitcoin.
Recent price weakness has weighed on the balance sheet. The company reported an unrealized loss of nearly $520.34 million following the latest acquisition. Valuation metrics also reacted quickly after the announcement. The net asset value dropped from 1.17 to 1.03 in a single day.
Beyond Bitcoin buying, Metaplanet confirmed the completion of payments linked to the issuance of 23,610,000 MERCURY Class B preferred shares. The issuance was carried out through a third-party allotment.
The company also shared revenue expectations tied to its crypto operations. Management said it expects operating revenue of JPY 4.242 billion from its Bitcoin Income business in Q4 2025.
Chief Executive Simon Gerovich addressed shareholders and the crypto community on X following the update. He said the firm has achieved a year-to-date Bitcoin yield of 568.2% under its accelerated accumulation strategy.
Stock retreats amid short-term Bitcoin price pressure
Equity markets reacted cautiously after the disclosure. Metaplanet stock closed down 7.95% as Bitcoin failed to hold above $90,000 and slipped below $87,931 over the past 24 hours. During the session, the stock traded between 403 JPY and 421 JPY. Trading volume also came in below the recent daily average of nearly $34 million.
Despite the sharp daily move, monthly performance remained positive. Yahoo Finance data showed the stock has risen about 1.25% this month as mNAV recovered above the 1x level with institutional backing.
Earlier reports indicated 100% shareholder approval of all five management proposals. The approvals provide support to Metaplanet’s plans to increase its holding of Bitcoins.
The company has a long-term goal of 100,000 BTC by the end of 2026. Management has made the goal central to its capital strategy. In the United States, Metaplanet-linked securities also came under pressure. MTPLF also closed 4.25% lower on Monday at $2.70.
Despite the daily drop, MTPLF shows a year-to-date return for the year 2025 of 16%. The performance has been an expression of ongoing investor interest in spite of the recent volatility. Another related listing, MPJPY, fell 4.20% to $2.74 on Friday. The decline has resulted in an overall drop of almost 6% since its debut a few weeks ago.
Derivatives information was pointing to mixed sentiment in the wide market. CoinGlass revealed that the total Bitcoin futures open interest has declined by over 5% to $57.41 billion over the last 24 hours.
Open interest on CME had fallen by almost 12%, while Binance saw a drop of around 5%. The figures showed traders decreased the level of leverage as uncertainty over the direction of prices continued.