Metaplanet Continues To Buy The Dip Despite $619M Net Loss Driven By Bitcoin Write-Downs

Tokyo-headquartered Metaplanet, also the fourth-largest public corporate Bitcoin holder in the world, reported a $619 million loss for the fiscal year.

But here is the twist! They aren’t selling. Instead of folding, the company has aggressively grown its Bitcoin stash to 35,102 BTC. Furthermore, Metaplanet has reaffirmed a long-term target of owning 1% of the total Bitcoin supply, or 210,000 BTC.

On 16 February 2026, Metaplanet CEO Simon Gerovich took to X to reveal the FY2026 forecasts, which include a +80% YoY revenue and a +81% YoY operating profit.

Metaplanet reported a net loss of 102.2 billion yen ($665.8 million), primarily due to a decline in the value of its Bitcoin holdings. While paper losses dominated the balance sheet, Metaplanet’s core operations thrived. Revenue jumped 738% to 8.91 billion yen ($58 million) from 1.06 billion yen the previous year.

“We launched the Bitcoin Income business in Q4 2024. Since then, this strategy has become our primary revenue source and is expected to remain a core driver of profit growth,” the company said. 

Source: Metaplanet

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Metaplanet Continues To Buy The Dip

Just like when MicroStrategy’s stock faces pressure during market downturns, Asia’s MicroStrategy a.k.a. Metaplanet is seeing red ink because the current price of Bitcoin is lower than their average purchase price of roughly $107,000.

Currently, Bitcoin is struggling to hold $68k.

Market Cap

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But don’t let the headlines fool you—while the valuation is down, they are sticking to the plan.

Metaplanet Reported a $664M Unrealized Loss on Bitcoin for FY2025.

But Look Closer:
➤ $BTC holdings jumped from 1,762 → 35,102 BTC (now 4th largest public holder)
➤ Revenue up 738% YoY
➤ Profit up 1,694% YoY

The Growth Engine? Bitcoin Options Trading, not price gains.… pic.twitter.com/ksW1uZPruh

— Crypto Patel (@CryptoPatel) February 17, 2026

Despite the paper losses, they are buying the dip. They ended the year with 35,102 BTC, an 1,892% increase from the previous year. This mirrors how Strategy reported earnings during similar crashes: ignore the paper valuation and keep stacking sats.

Metaplanet continues to eye 210,000 BTC by 2027 via its “555 Million Plan.”

The company even noted that its balance sheet is “robust” enough to survive even if Bitcoin drops another 86%, proving they are prepared for extreme volatility.

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