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Bitcoin treasury firm Metaplanet has reaffirmed its commitment to accumulating Bitcoin even as the BTC price experiences a sharp downturn. During early Asian trading hours on Friday, Bitcoin briefly dropped to around $60,000 before rebounding toward the $63,000 range, extending a broader bearish trend that has wiped billions from institutional crypto portfolios.
In a recent post on X, Metaplanet CEO Simon Gerovich addressed growing concerns among investors and acknowledged the pressure shareholders are facing amid declining stock prices. Despite these challenges, Gerovich emphasized that the company’s long-term Bitcoin strategy remains unchanged. He stated that Metaplanet will continue to steadily purchase Bitcoin, expand its revenue streams, and position itself for the next stage of growth, regardless of short-term market volatility.
The renewed assurance comes at a time when Metaplanet is dealing with millions of dollars in unrealized losses due to the ongoing Bitcoin price correction. These losses have also impacted the firm’s stock performance, with shares reportedly falling by about 8% at the start of Friday’s trading session. Still, the company appears unfazed, choosing to prioritize its conviction in Bitcoin over near-term financial pain.
Metaplanet is not alone in this approach. Other Bitcoin treasury firms, including Michael Saylor’s Strategy, have also reported significant unrealized losses. Recent reports indicate that Strategy is facing more than $4.5 billion in paper losses as its MSTR stock continues to decline alongside Bitcoin’s price. Like Metaplanet, Saylor has repeatedly stated that his company will continue buying Bitcoin despite the market downturn.
Meanwhile, market sentiment remains cautious. Data from Polymarket suggests that around 76% of traders expect Bitcoin to fall below $55,000 in the near term. Bitcoin has already lost nearly half of its value since reaching its previous all-time high in October, raising concerns about further downside risk. Some analysts, including those at Stifel, have warned that Bitcoin could potentially drop as low as $38,000, citing historical bearish cycles such as those seen in 2018 and 2022.
Despite these gloomy forecasts, firms like Metaplanet continue to view the current Bitcoin price crash as an accumulation opportunity rather than a reason to retreat, reinforcing their long-term belief in Bitcoin’s future value.
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