Japanese investment firm MetaPlanet has reported a staggering net loss of 95 billion yen (approximately $654 million) for 2025, primarily attributed to declines in the market value of its Bitcoin holdings. Despite this significant paper loss, the company has announced an aggressive acceleration of its Bitcoin acquisition plans, creating a notable case of corporate conviction in cryptocurrency strategy.
The reported loss stems from International Financial Reporting Standards (IFRS) accounting requirements, which mandate that companies mark cryptocurrency holdings to market value each reporting period. The 104.6 billion yen ($634 million) non-cash asset valuation loss occurred because Bitcoin's price declined between reporting dates. Crucially, this is an accounting entry and does not represent an actual cash outflow or affect the company's operational reserves. MetaPlanet's leadership emphasized that the loss reflects valuation adjustments, not operational failures, noting that core business segments actually saw a seven-fold revenue growth.
Undeterred, MetaPlanet plans to raise approximately 8.8 billion yen ($53.3 million) through its 25th series of stock warrants, exercisable until February 2027. The company explicitly stated that a "significant portion" of these funds will be allocated to purchasing additional Bitcoin. This financing method provides flexibility without immediate share dilution.
MetaPlanet currently holds 35,102 BTC, positioning it among the world's largest corporate Bitcoin holders alongside names like MicroStrategy and Tesla. The firm's strategy treats Bitcoin as a strategic long-term treasury asset, akin to how corporations historically held gold, rather than a speculative trading position. Analysts note the approach mirrors early internet company strategies during the dot-com era, where short-term paper losses were tolerated for potential long-term dominance in an emerging sector.
The company's continued accumulation, even during a market downturn, highlights a contrarian belief in Bitcoin's long-term value proposition as a hedge against traditional financial system risks. Japanese regulatory developments, including revisions to the Payment Services Act and progressive tax guidance, have created a relatively favorable environment for such corporate cryptocurrency investment compared to other major economies.
