Top Highlights
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Stock vs. Company Discrepancy: CEO Simon Gerovich emphasized the separation of stock performance from company fundamentals, likening Metaplanet’s situation to Amazon’s dot-com era struggles.
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Bitcoin Revenue Surge: Despite a 20% stock drop, Metaplanet reported a 116% increase in Bitcoin revenue (¥2.44 billion, ~$16 million) in Q3 2025 and has amassed 30,823 BTC worth approximately $3.7 billion.
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Aggressive BTC Acquisition: The company’s acquisitions included 5,419 BTC for $632.5 million, positioning it as the fourth-largest corporate Bitcoin holder globally, ahead of competitors.
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Market Challenges: Although BTC stabilized around $120,000, Metaplanet shares remain volatile, closing at 622 yen, significantly down from their yearly peak, highlighting a disconnect frustrating investors.
Metaplanet Shares Tumble 20%, But Q3 Bitcoin Revenue Soars 116%
Tokyo — Metaplanet’s shares fell nearly 20% over the past month. Despite this troubling trend, the company reported impressive third-quarter results. Bitcoin revenue surged by 116%, reaching ¥2.44 billion, or about $16 million, quarter-on-quarter. The upward trajectory in revenue highlights the company’s strong fundamentals.
CEO Simon Gerovich responded to concerns by likening the current situation to Amazon in its early days. He reminded shareholders, “the stock is not the company, and the company is not the stock.” This message aims to reassure investors amid the stock’s volatility.
Metaplanet now holds 30,823 BTC, valued at approximately $3.7 billion, positioning it as the fourth-largest corporate Bitcoin holder globally. The company also recorded an operating profit that surpassed expectations by 88%. Furthermore, it boasts a nearly debt-free balance sheet.
However, investor confidence remains shaky. On Friday, stocks closed at 622 yen, recovering slightly by 7.43% but lagging far behind their peak of 1,930 yen. September alone saw a nearly 20% decline, despite a 70% year-to-date increase.
Gerovich expressed frustration over the disconnect between the company’s robust performance and its stock price. “It’s painful for our team, shareholders, and for me personally,” he shared. He emphasizes a commitment to accumulating Bitcoin and developing revenue streams connected to the cryptocurrency.
In the broader market, Bitcoin recently stabilized around $120,000 after a significant dip late in September. Analysts are watching this price closely, looking for signs of a potential upward trend.
As Metaplanet navigates these challenges, its innovative approach in the crypto space continues to attract attention, showcasing its potential to impact technology development in the financial sector.
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