Buying the Dip: Metaplanet Doubles Down on Bitcoin Despite Stock Plunge

Buying the Dip: Metaplanet Doubles Down on Bitcoin Despite Stock Plunge

TLDR

• Metaplanet stock dropped 9% despite announcing a 2 billion JPY ($13.33 million) Bitcoin purchase plan through zero-interest bonds
• The Japanese stock market fell 4% as markets brace for President Trump’s “Liberation Day” tariffs on April 2
• Metaplanet has accumulated 3,350 BTC at an average price of $83,000, making it Asia’s largest corporate Bitcoin holder
• The company appointed Eric Trump to its advisory board and aims to hold 10,000 BTC by 2025 and 21,000 BTC by 2026
• Economic Policy Uncertainty Index has reached historic highs, exceeding levels from the 2008 financial crisis

Japanese crypto firm Metaplanet saw its stock price fall more than 9% on Monday, dipping below 400 JPY despite announcing plans to purchase more Bitcoin.

The company issued 2 billion JPY ($13.33 million) in zero-interest bonds to fund additional Bitcoin acquisitions, continuing its aggressive cryptocurrency strategy.

The bonds were issued with no interest and will be fully redeemed by September 30, 2025. All bonds were allocated to the EVO FUND, with each bond having a face value of 50 million JPY.

Simon Gerovich, Representative Director of Metaplanet, oversaw the bond issuance. He posted “Buying the dip!” on social media platform X, suggesting the company views the current market conditions as a buying opportunity.

押し目買い！
Buying the dip! https://t.co/nOIQrAveap

— Simon Gerovich (@gerovich) March 31, 2025

This marks Metaplanet’s 10th Series of Ordinary Bonds. The company plans to use these funds purely for Bitcoin purchases, doubling down on its crypto strategy even as markets show signs of stress.

The stock price decline comes amid broader market turbulence. Japanese markets dropped 4% in early trading on Monday, reaching their lowest level in nearly eight months.

Global markets are preparing for President Trump’s “Liberation Day” on April 2. This event will mark the start of new tariffs, with the U.S. set to impose 20%+ tariffs on imports from over 25 countries.

These tariffs will target goods valued at more than $1.5 trillion by the end of April. The prospect has created market uncertainty, pushing many investors toward safe-haven assets.

Metaplanet has already accumulated 3,350 BTC at an average purchase price of $83,000 per Bitcoin. The company has spent approximately 42.22 billion JPY ($270 million) on Bitcoin since formally embracing it as a core asset in 2024.

This aggressive buying strategy has made Metaplanet the largest corporate Bitcoin holder in Asia. The company has outpaced other Asian firms including Chinese game developer Boyaa Interactive and mining firm Cango.

Metaplanet tracks a metric called “Bitcoin Yield,” which calculates the percentage growth in BTC holdings compared to fully diluted shares. This metric grew 309.8% in Q4 2024 and currently sits at 68.3% for Q1 2025.

The company has ambitious goals for its Bitcoin holdings. By 2025, Metaplanet aims to hold 10,000 Bitcoin, and by 2026, it plans to increase that number to 21,000 Bitcoin.

Metaplanet recently strengthened its leadership team by appointing Eric Trump to its newly formed advisory board on March 21. Trump is expected to contribute business expertise to help build “one of the world’s leading Bitcoin Treasury Companies,” according to CEO Gerovich.

The company’s Bitcoin strategy previously fueled its growth. In 2024, Metaplanet was Japan’s best-performing stock, outperforming many other public companies due to its Bitcoin pivot.

However, the rally has slowed in 2025. The company’s shares are up only 12.17% year-to-date, suggesting the earlier momentum has faded.

This pattern mirrors other companies with Bitcoin treasury strategies. Shares of Strategy, the American business intelligence firm that inspired Metaplanet’s pivot, are down 3.5% since the start of 2025.

American video game retailer GameStop has also faced challenges with its Bitcoin strategy. The company’s shares collapsed after announcing a debt-for-BTC offering.

The Economic Policy Uncertainty Index has reached levels approximately 80% higher than those recorded during the 2008 financial crisis. This uncertainty is contributing to wider market swings, with analysts predicting more volatile trading ahead.

Bitcoin prices have also faced pressure, dropping below $81,500 on Monday. The cryptocurrency reached an intraday low of $81,362, extending its recent losing streak.

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