Simon Gerovich, CEO of Metaplanet, has firmly restated the company's dedication to its Bitcoin-first strategy amid one of the harshest crypto downturns in years. Bitcoin's 50% drop from its October 2025 all-time high of $126,080 has not swayed the firm. Gerovich confirmed that Metaplanet will continue steadily accumulating Bitcoin, expanding revenue streams, and preparing for long-term growth.
Reserves and Market Reaction
Days before the statement, Metaplanet shares fell 5.56% to close at 340 yen (roughly $2.16) on the Tokyo Stock Exchange. Yet the company's Bitcoin holdings remain substantial: 35,102 BTC. According to BitcoinTreasuries.NET, Metaplanet ranks fourth among publicly traded Bitcoin holders, trailing only Strategy, MARA Holdings, and Twenty One Capital.
The broader crypto market is experiencing severe pain. The Crypto Fear & Greed Index has plunged to its lowest since the Terra Luna collapse in May 2022. On Thursday alone, $1.844 billion in long positions were liquidated, per Coinglass. The sell-off has triggered unrealized losses for major holders. Metaplanet's average purchase price stands at $107,716, leaving it underwater as Bitcoin struggles below that level.
The Future of Corporate Bitcoin Treasuries
Despite market volatility, Metaplanet shows no intent to trim its position. Gerovich's remarks reflect a conviction in Bitcoin's long-term value. Other large holders are also hurting: Strategy, the largest public holder, posted a $12.4 billion net loss for Q4 2025, with its average cost of $76,052 now above market price.
These whales are all staying put, betting on a rebound. Metaplanet's resolute stance underscores its focus on long-term growth, with cryptocurrency remaining a core part of its future strategy.