Simon Gerovich, CEO of Metaplanet (3350), doubled down on the company’s bitcoin buying strategy even as shares in Asia’s largest publicly traded holder of the cryptocurrency fell.
In a post on X, Gerovich said Metaplanet would “steadily continue to accumulate bitcoin, expand revenue and prepare for the next phase of growth.” He thanked shareholders who continued to back the company despite bitcoin’s downward trend: The largest cryptocurrency has lost more than 47% of its value since touching a record high in October and fell 14% on Thursday alone.
Metaplanet’s stock has struggled alongside bitcoin, ending the week at 340 yen after falling roughly 82% from a high of 1,930 yen in June. On Friday, the stock fell 5.6% following bitcoin’s slump after Asian trading hours the day before.
The Tokyo-based company’s “555 Million Plan” aims to reach 100,000 BTC by the end of 2026 and 210,000 BTC by 2027. Its bitcoin holdings have climbed from 1,762 BTC at the end of 2024 to 35,102 BTC now, worth about $2.5 billion at current prices.
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