Bitcoin cost basis is $100,000… Metaplanet CEO: "Still buying more"

As Metaplanet, a Japanese investment firm dubbed "Asia’s MicroStrategy," faces the risk of massive unrealized losses amid Bitcoin’s sharp selloff, CEO Simon Gerovich has moved to directly reassure shareholders. He also signaled his determination to stick with the company’s Bitcoin accumulation strategy despite the plunge in market prices well below its average purchase price.

On the 6th, Gerovich wrote on X, "We fully recognize at the company level the difficult situation shareholders are experiencing due to recent stock-price volatility." His remarks are seen as a response to growing concerns over the company’s value as Bitcoin’s price has fallen well below Metaplanet’s acquisition cost.

On the 5th, Bitcoin at one point dropped to the $60,000 level intraday on Binance’s Tether (USDT) market. That marked the lowest level since October 2024 and a decline of more than 50% from the all-time high posted in early October.

The issue is Metaplanet’s cost basis. As of last December, Metaplanet held a total of 35,012 bitcoins, with an average purchase price of $102,207. With the current market price hovering in the low-$60,000 range, the value of its holdings has effectively shed nearly 40% versus the purchase price, leaving the company with a massive unrealized loss.

Even in this situation, Gerovich reiterated an unwavering commitment to continued accumulation. "There is no change whatsoever to Metaplanet’s existing strategy," he said, adding, "We will continue to steadily accumulate Bitcoin, expand profitability, and proceed without disruption in preparing for the next growth phase."