Bitcoin News Today: Metaplanet's Bitcoin Windfall Can't Stem Investor Exodus
Tokyo-based Metaplanet reported a 67.5% decline in its stock price between July and September 2025, despite a 115.7% quarter-on-quarter surge in Bitcoin-related revenue for Q3. The company's BitcoinBTC-- Income Generation segment generated ¥2.438 billion ($16.56 million) in the period, driven by aggressive accumulation of Bitcoin and a revised full-year revenue forecast of ¥6.8 billion, doubling its previous projection[1]. Operating profit guidance was also raised to ¥4.7 billion from ¥2.5 billion, reflecting confidence in its Bitcoin-centric financial model[1]. However, the stock's sharp sell-off highlighted a growing disconnect between operational performance and investor sentiment[1].
Metaplanet's Bitcoin treasury now totals 30,823 coins, valued at approximately $3.33 billion, making it the fourth-largest publicly listed Bitcoin holder globally[1]. The company surpassed its 2025 target of 30,000 BTCBTC-- by September 30, with the latest purchase of 5,268 BTC for $615.67 million pushing its holdings past the benchmark[1]. This accumulation represents over 0.1% of Bitcoin's total supply and an average acquisition cost of $107,912 per coin. Year-to-date, the company's Bitcoin yield reached 497.1%, underscoring the scalability of its treasury strategy[1].
The divergence between Metaplanet's operational success and stock performance has drawn analysis from industry observers. While Bitcoin itself closed Q3 with a 6.31% gain, the company's shares fell 67.5%, signaling heightened risk perception among investors[1]. Analysts attribute this to factors including equity dilution from recent share issuances, regulatory uncertainties, and sensitivity to Bitcoin's volatility[2]. The company raised $1.4 billion via a 385 million-share offering in September, which analysts suggest contributed to short-term selling pressure[3].
Despite the stock's underperformance, Metaplanet's strategic expansion continues. The firm launched Phase II of its growth plan in October 2025, introducing new revenue streams such as internal Bitcoin options trading, media operations through Bitcoin.jp, and an undisclosed venture, Project NOVA, slated for 2026[3]. Capital Group, a $2.6 trillion asset manager, has also increased its stake in Metaplanet to 11.45%, becoming the company's largest shareholder[3]. This move underscores institutional confidence in the corporate Bitcoin treasury model, as public companies now hold over 1 million BTC collectively[3].
Investor sentiment remains cautious, with benchmarks such as the 41% month-to-date drop in Metaplanet's stock contrasting with Bitcoin's resilience[4]. Benchmark Equity Research maintained a "Buy" rating in September, targeting a share price of ¥2,400 by 2026[4]. However, analysts emphasize that the company's recovery hinges on Bitcoin reaching $125,000–$130,000 and improved financial discipline to mitigate dilution risks[4]. Metaplanet's stock volatility-dropping 14% in a single day in July-reflects ongoing challenges in aligning its valuation with the broader crypto market[5].
Comentarios
Aún no hay comentarios