Metaplanet, the Japanese company known for embracing Bitcoin, is now facing losses as the cryptocurrency's value plunges to its lowest in three months.

Metaplanet Experiences Losses as Bitcoin Dips Below $80,000

Bitcoin has tumbled by 18.2% this past week, hitting a low of under $80,000 today, levels last seen back in November 2024.

Currently, Bitcoin is trading at $80,462, down by 6.5% within 24 hours, while the broader crypto market witnessed a 7.7% drop in total market capitalization.

With an average Bitcoin purchase price of $81,458, Metaplanet is now dealing with a 2.0% loss on its Bitcoin holdings as per BitcoinTreasuries data.

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The company owns 2,235 BTC valued at $179.54 million, constituting 20.9% of its market cap.

Metaplanet faces financial pressure not just from its crypto investments but also from its stock performance.

Despite a 54% downturn since its peak, Metaplanet's stock price remains higher than the value of its Bitcoin reserves, as highlighted by BitMex Research.

Metaplanet's shares fell 17.4% today, closing at approximately $22.

However, undeterred by the market dip, Metaplanet issued $13.3 million in zero-interest bonds on February 27 to purchase Bitcoin, its seventh bond issuance for this purpose, redeemable on August 26.

Aligned with its 2025 roadmap, Metaplanet is steadfast in accumulating 10,000 Bitcoins by year-end, positioning itself as a global Bitcoin leader.

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Metaplanet's CEO, Simon Gerovich, stated, "Our vision is to lead the Bitcoin renaissance in Japan and become one of the largest corporate Bitcoin holders globally."

The company has set ambitious goals beyond 2025, aiming to amass 21,000 Bitcoins by the end of 2026 through its "21 Million Plan," leveraging a ¥116.65 billion ($785 million) funding target.

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