Metaplanet Becomes Fourth-Largest Bitcoin Holder, Stock Drops 10%
Metaplanet Expands Bitcoin Holdings
- Metaplanet, Asia's largest corporate holder of Bitcoin, acquired 5,268 BTC on Oct. 1 at $116,870 per Bitcoin, totaling $615 million.
- The company's total Bitcoin holdings now amount to 30,823 BTC, valued at approximately $3.33 billion, making it the fourth-largest Bitcoin Treasury firm globally.
- Despite this expansion, Metaplanet's stock fell by over 10% on the Tokyo Stock Exchange.
Financial Performance and Forecast
- Metaplanet reported a 115.7% increase in Q3 revenue from its Bitcoin Income Generation segment, reaching 2.438 JPY billion.
- The company revised its full-year 2025 guidance, forecasting a 100% revenue increase to 6.8 JPY billion and an 88% rise in operating profit to 4.7 JPY billion.
- CEO Simon Gerovich highlighted operational scalability and financial strength, supporting a planned share issuance.
Stock Market Reaction
- Metaplanet's stock has declined by 10.26%, trading at 516 JPY, with a monthly correction of 37% causing bearish sentiment among traders.
- Despite the downturn, Capital Group became Metaplanet's largest shareholder with an 11.45% stake.
- Benchmark Equity Research maintains a "Buy" rating with a price target of 2,400 JPY by the end of 2026.