Metaplanet stock hits 52-week low despite 40,177 BTC treasury
Metaplanet fell sharply on June 26 as investors continued to sell the Tokyo-listed Bitcoin treasury company.
- Metaplanet closed at ¥197 after touching a new 52-week low near ¥195 on June 26.
- The company still holds 40,177 BTC, making it one of the largest public Bitcoin treasury firms.
- Its selloff shows investors are pricing Bitcoin treasury stocks below headline BTC holdings during market stress.
The stock closed at ¥197, down 10.45% for the day.
The stock touched ¥195 during the session, marking a fresh 52-week low. Its 52-week high stands at ¥1,681, meaning the shares now trade about 88% below that peak. Metaplanet’s market capitalization was at ¥252.41b and daily volume at 34.90m shares.
The latest drop drew attention after ZynxBTC wrote on X that “the bleeding for Metaplanet continues.” The post noted that the company has added 27,832 BTC over the past year while the stock has continued to fall.
Bitcoin stack keeps growing
Metaplanet’s latest public Bitcoin balance stands at 40,177 BTC. The company’s own website lists the same figure, making it one of the largest public corporate Bitcoin holders in the world.
The company added 5,075 BTC during the first quarter of 2026, bringing its total holdings above 40,000 BTC. Its Bitcoin strategy has pushed the company far beyond its original hotel business and turned it into Japan’s best-known listed Bitcoin treasury firm.
The market is not valuing the stock only on the headline Bitcoin balance. Investors are also looking at dilution, accounting losses, Bitcoin price weakness and whether the company can keep raising capital without hurting existing shareholders.
That gap explains why the stock can fall even while the Bitcoin stack grows. A larger BTC balance can support long-term value, but weak market sentiment can still push treasury companies below their net asset value.
Valuation gap comes into focus
Metaplanet’s share price now sits near its 52-week low while the company still owns a large Bitcoin reserve. This has revived debate over whether the stock trades below the value of its assets.
As previously reported, Metaplanet weighed stock repurchases after its mNAV fell below 1.0x. A reading below 1.0x means the market values the company at less than the value of its Bitcoin-backed asset base.
CEO Simon Gerovich said at the time that management would strongly consider buybacks if the company traded below that level. He also made clear that the comments were not a formal buyback announcement.
The current price action makes that issue more urgent for shareholders. If the stock stays below Bitcoin NAV, Metaplanet may face pressure to show how it can close the valuation gap without slowing its Bitcoin plan.
Securities deal adds new direction
Metaplanet is also moving beyond simple Bitcoin accumulation. Metaplanet agreed to acquire Siiibo Securities for JPY 2.1b in its first major acquisition.
The deal gives the company a licensed securities platform in Japan. Metaplanet plans to rename the firm Metaplanet Securities after the transaction closes. It wants to use the platform to launch Bitcoin-linked investment products and yield-focused offerings.
In a previous article, crypto.news discussed Metaplanet’s plan to buy more Bitcoin through a large share offering. The company has set a long-term target of holding 210,000 BTC by 2027, equal to 1% of Bitcoin’s fixed supply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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