Metaplanet Defies Slump as Tokyo’s ‘Bitcoin King’ Doubles Down Amid $12.4B Rout!
Even after a steep 47% drop from its October highs, Metaplanet—often called the "MicroStrategy of Japan"—says...
Quick overview
- Metaplanet, despite a 47% drop in Bitcoin prices, remains committed to its '21 Million Plan' to acquire 21,000 BTC by 2026.
- CEO Simon Gerovich reassured shareholders that the company will continue to buy Bitcoin and focus on long-term growth despite recent volatility.
- Market sentiment has turned bearish, with 76% of traders predicting Bitcoin will fall below $55,000 in the near term.
- Financial analysts warn that Bitcoin could drop as low as $38,000 due to tighter Fed policy and liquidity issues.
Even after a steep 47% drop from its October highs, Metaplanet—often called the “MicroStrategy of Japan”—says it will stick to its bold plan to keep buying Bitcoin.
This commitment from the Tokyo-listed company comes as the wider crypto market struggles after a “Flash Friday” drop, when Bitcoin briefly fell to $60,000 before settling near $63,000.
Metaplanet’s “21 Million Plan” Remains in Overdrive
CEO Simon Gerovich spoke to shareholders’ concerns on X (formerly Twitter), admitting the recent price swings have been tough but emphasizing the company’s long-term goals.
“We are fully aware that recent trends have challenged our shareholders,” Gerovich stated. “We will steadily continue to acquire Bitcoin, expand revenue, and prepare for future growth.”
Metaplanet is working on its “21 Million Plan,” which aims to collect 21,000 BTC by 2026. To help fund this, the company recently announced a $137 million capital raise through third-party allotments and stock acquisition rights set for mid-February.
Even though the company has large unrealized losses—its average purchase price is about $107,716 per coin—management is still focused on “BTC Yield,” which tracks how much Bitcoin backs each diluted share.
BIG: Metaplanet CEO reaffirms: “No change to our strategy—we will keep accumulating $Bitcoin.” pic.twitter.com/xtds7w1FUA
— Aman 👻 (@Im_Aman2) February 6, 2026
Institutional Heavyweights Face Multi-Billion Dollar Paper Losses
Metaplanet isn’t alone in facing challenges. The recent volatility has led to a surge of “impairment losses” on many corporate balance sheets:
| Strategy (MSTR) | ~713,500 BTC | $12.4 Billion | Continuous Buying |
| Metaplanet (3350) | 35,102 BTC | $680 Million | Continuous Buying |
| MARA Holdings | 53,250 BTC | Significant | Holding |
Strategy (formerly MicroStrategy) is still the most aggressive, with CEO Michael Saylor using debt and equity to keep buying the dip. Still, MSTR stock has dropped more than 30% this year, showing that investors are worried about the company’s position as a high-beta Bitcoin proxy.
Market Sentiment: Bears Target $38,000 Support
While companies keep buying the dip, retail and speculative traders are preparing for a bigger drop. Data from the decentralized prediction market Polymarket shows that sentiment has turned much more bearish.
- 76% of traders now bet that Bitcoin will fall below $55,000 in the immediate term.
- The probability of BTC reclaiming $100,000 in 2026 has dropped to 55%, down from over 80% just weeks ago.
Financial analysts at Stifel have given an even darker outlook. Comparing the current situation to the 2018 and 2022 bear markets, they say Bitcoin could fall as low as $38,000. They point to “tighter Fed policy, shrinking liquidity, and heavy spot ETF outflows” as the main reasons for a possible 46% drop from today’s prices.
The Road Ahead: Accumulation vs. Capitulation
Right now, the market is split. Institutional “HODLers” like Metaplanet and Strategy are taking big paper losses to grab more of the total Bitcoin supply, while technical analysts warn that a long “crypto winter” could be ahead.
For investors, the next few weeks will show whether corporate buying can keep prices from falling, or if the $3.5 billion in recent exchange liquidations will push Bitcoin down to the $38,000 level that bears are predicting.
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