- Metaplanet’s Bitcoin profits declined sharply in Q3
- October BTC drop erased most unrealized gains
- ¥10.6B in unrealized profit remains in treasury
Bitcoin Volatility Hits Metaplanet’s Treasury
Metaplanet, often dubbed “Japan’s MicroStrategy,” saw a significant dip in the performance of its Bitcoin treasury in Q3 2025. According to the latest update, the company’s unrealized profit shrank to ¥10.6 billion, following a sharp pullback in Bitcoin prices during October.
The decline highlights the inherent volatility of holding Bitcoin on corporate balance sheets—a strategy that can deliver explosive growth during bull runs, but also steep drawdowns during corrections.
October Pullback Erases Unrealized Gains
Throughout much of 2025, Metaplanet’s aggressive BTC acquisition strategy brought strong paper profits. However, October’s drop in BTC prices—driven by broader market corrections and risk-off sentiment—erased a substantial portion of the gains the company had been holding.
While ¥10.6 billion in unrealized gains is still a sizable figure, it’s a sharp decline compared to previous quarters. This shows the risk companies face when treating Bitcoin as a treasury reserve asset, especially without hedging strategies.
Metaplanet Still Committed to Bitcoin
Despite the temporary setback, Metaplanet has shown no signs of backing away from its Bitcoin-first treasury strategy. The company has been outspoken about its belief in BTC as a long-term hedge against currency devaluation and global monetary instability.
Market observers are watching closely to see if Metaplanet will continue accumulating or adopt a more conservative approach in Q4. Either way, its journey offers a unique window into how corporate crypto treasuries perform under real market pressure.
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