Average cost is $100,000 but it’s plunged to $60,000…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 steep selloff, CEO Simon Gerovich has stepped in to reassure shareholders. He also signaled his intent to stick with the company’s Bitcoin-buying strategy despite the sharp drop in prices well below its average purchase cost.

On the 6th, Gerovich said in a post on X that “the company also takes very seriously the difficult situation shareholders are going through due to recent stock-price volatility.” His remarks are seen as coming as concerns have grown over the firm’s value after Bitcoin prices fell well below Metaplanet’s purchase cost.

Earlier, on the 5th, Bitcoin slid intraday to as low as the $60,000 level on Binance’s Tether (USDT) market. That marked the lowest level since October 2024 and a plunge of more than 50% from the all-time high set in early October.

The issue is Metaplanet’s cost basis. As of December last year, Metaplanet held a total of 35,012 bitcoins, with an average purchase price of $102,207. With Bitcoin currently hovering in the low $60,000s, the value of its holdings has effectively evaporated by nearly 40% versus the acquisition cost, leaving the firm saddled with substantial unrealized losses.

Still, Gerovich reaffirmed the company’s unwavering commitment to accumulation even under these conditions. “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 with preparations for the next phase of growth.”