Metaplanet’s CEO, Simon Gerovich, is determined to pursue the company’s Bitcoin accumulation strategy amid a severe downturn affecting both the crypto market and the company’s stock.
“There is no change to Metaplanet’s strategy. We will steadily continue to accumulate Bitcoin, expand revenue, and prepare for the next phase of growth,” Gerovich stated on X.
As of the latest trading session on the Tokyo Stock Exchange, Metaplanet’s stock fell by 5.56%, closing at 340 yen (about $2.16). The firm ranks fourth among publicly listed companies holding substantial Bitcoin reserves, amounting to 35,102 BTC as recorded.
Metaplanet Stock Trends
Metaplanet’s stock has been tumbling since mid-January. Source: Japan Exchange Group
The current market sentiment for Bitcoin has plummeted, with the cryptocurrency down approximately 50% from its all-time peak.
In related news, corporate entities heavily invested in Bitcoin, such as Strategy, reported substantial losses as well, reflecting the pressures across the crypto treasury landscape. Metaplanet’s average purchase price for its Bitcoin holdings stands at $107,716, with no plans to liquidate or reduce exposure in sight.
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