The Japanese company Metaplanet reported a record loss of approximately $725 million for the first quarter of 2026, which is more than 20 times higher than the same figure last year, which was only $31 million. The main reason for this financial result was the significant decrease in the market value of the company’s Bitcoin reserves due to the recent correction in the cryptocurrency market.
This is reported by Finway
Increase in Bitcoin investments and stock dynamics
Despite the losses, Metaplanet continues to actively increase its cryptocurrency reserves. In the reporting quarter, the company acquired an additional 5,075 BTC, bringing the total volume of Bitcoin assets to 40,177 BTC. At the time of the report’s release, these reserves were valued at approximately $3.18 billion.
However, investors reacted to the financial results with a 20% decline in the value of Metaplanet’s shares over the past six months. At the time of preparing this material, the company’s shares were trading at $309, with a market capitalization of $418.5 billion.
“Since the start of the Bitcoin accumulation strategy in April 2024, the company has become one of the largest corporate holders of the world’s first cryptocurrency. Currently, Metaplanet ranks third in reserve volume among public companies.”
A significant positive for the company has been the substantial expansion of its investor base: the number of shareholders has increased to 250,000, which is four times more compared to last year.
Postponement of new product launches and change in business strategy
Metaplanet also announced the postponement of the release of preferred shares MARS and MERCURY, the launch of which was announced back in November 2025. The company’s CEO, Simon Gerovich, explained that the release of these products is delayed, but the company does not abandon its plans for their implementation. The new instruments are seen as an analog to the STRC products of Strategy, which are designed to attract capital for the Bitcoin strategy.
A characteristic of the Japanese market, as noted by Metaplanet’s management, is the tradition of paying dividends once or twice a year, unlike Strategy, which makes monthly payments.
In recent years, Metaplanet has transformed its business, moving away from the hotel sector in favor of operations related to digital assets. In the first quarter of 2026, revenues from the sale of Bitcoin options contracts rose to $15.8 million compared to $4.8 million a year earlier.