Metaplanet Shares Slide 87% Despite Rapid Bitcoin Growth

TLDR

• Metaplanet stock has declined 87% over the past 12 months despite continued Bitcoin accumulation.
• The company added 27,832 BTC during the year, which more than tripled its total holdings.
• Metaplanet remains profitable and is currently trading below its book value.
• In Q1 2026, the firm acquired 5,075 BTC for about $405.48 million at an average price of $79,898.
• The company now holds 40,177 BTC with a total cost basis of approximately $4.18 billion.

Metaplanet stock has dropped 87% over the past 12 months while the firm expanded its Bitcoin holdings. The company increased its treasury and maintained profitability during the same period. Market participants now assess the gap between valuation and asset growth.

Metaplanet stock decline contrasts with Bitcoin accumulation

Metaplanet stock has fallen sharply over the past year while the firm expanded its Bitcoin reserves. The company added 27,832 BTC during the period, and this move tripled its total holdings. At the same time, the firm remained profitable and traded below its book value.

Market observers highlighted the valuation gap and described it as an opportunity for buyers. Zynx called the pricing a “gift” as the company continues to build its crypto position.

Metaplanet expands treasury and moves into financial infrastructure

Metaplanet continued its buying strategy in the first quarter of 2026 and acquired 5,075 Bitcoin. The firm spent about $405.48 million and paid an average price of $79,898 per coin. This purchase increased its total treasury holdings to 40,177 BTC.

The company disclosed that it spent about $4.18 billion to accumulate its Bitcoin stack. The average cost basis for total holdings is $104,106 per Bitcoin. These figures place Metaplanet among the largest corporate Bitcoin holders globally.

The company now ranks as the third-largest corporate holder of Bitcoin by treasury size, based on current data. It trails only Twenty One Capital and MicroStrategy in total Bitcoin reserves. This position reflects its steady accumulation strategy across several quarters.

Metaplanet also continues to build infrastructure around its digital asset operations. CEO Simon Gerovich confirmed an agreement to acquire Siiibo Securities Co., Ltd. The deal values the acquisition at 2.1 billion yen, which equals about $13.1 million.

The firm expects to complete the acquisition in July, and the move supports its financial services expansion. The company aims to integrate traditional finance operations with its Bitcoin treasury strategy. These developments follow the latest Bitcoin purchases and treasury disclosures.

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