Metaplanet CEO Sticks to BTC Strategy: Despite the Crash

Metaplanets stock has been tumbling since mid-January. Source: Japan Exchange Group

Bitcoin is trading down about 50% from its October 2025 peak of $126,080, while the Crypto Fear & Greed Index has fallen to its lowest level since the Terra Luna collapse. According to Coinglass, $1.844 billion in long positions were liquidated on Thursday. Strategy reported a net loss of $12.4 billion but purchased an additional 855 BTC worth $75 million on Monday. Metaplanets average BTC cost is $107,716. Ethereum-based Bitmine, on the other hand, is facing $8.25 billion in unrealized losses with 1.17 million ETH.

Bitcoin Falls Below $70,000 for the First Time

Bitcoin has fallen below $70,000 for the first time since November 6, 2024. This sharp drop is linked to macroeconomic pressures highlighted in BTC detailed analysis reports. Market liquidations are at record levels: $1.844 billion in long positions were wiped out.

MicroStrategy CEO Phongs Worst-Case Scenario Warning

MicroStrategy CEO Phong Le stated that convertible bond issuance would stop if the Bitcoin price falls below the companys average purchase price of $76,000. In the worst-case scenario, a BTC level of $8,000 could complicate debt payments. Despite this, Strategy added 855 more BTC despite a $12.4 billion net loss – a stance similar to Metaplanets determination.

Metaplanets BTC Portfolio Analysis

Metaplanets 35,102 BTC carries significant unrealized losses at an average cost of $107,716. Its stock has been declining since mid-January, but CEO Gerovich is sticking to the strategy. Comparison:

• Strategy: Leader, massive purchases continue
• MARA Holdings: Production-focused
• Metaplanet: 4th place, revenue growth target

ETH Crash: Bitmine and Market Impacts

ETH fell to $1,873 (11.50% drop). Bitmines 1.17 million ETH is at an $8.25 billion loss. ETH is under pressure in the ETH futures market: RSI 22.74 (oversold), Supertrend bearish.

Closing above EMA 20 at $2,560 could signal recovery. BTC-ETH correlation is high, ETH holders like Metaplanet are struggling.

Risks for Metaplanet Investors

With average cost at 107k and BTC around 63k, leverage risk is increasing. However, the revenue growth promise could support stock recovery. Experts point to buying opportunities at the bottom of Fear & Greed.