Metaplanet Shares Tumble 20%, But Q3 Bitcoin Revenue Soars 116%

CEO Gerovich conjured up Bezos’ dot-com knowledge: “the stock is not the business,” prompting persistence as principles enhance.

Metaplanet’s stock has actually dropped practically 20% in the previous month, despite the fact that the Japanese business stated its Bitcoin (BTC) profits leapt 116% in the 3rd quarter of 2025 and its holdings grew to 30,823 BTC, worth about $3.7 billion.

The Tokyo-listed business now ranks as the world’s fourth-largest business Bitcoin holder, however financier self-confidence in its shares continues to fail.

Principles Strengthen as Stock Price Weakens

The circumstance required CEO Simon Gerovich to require to X on October 2 to assure investors. He drew a parallel with Amazon’s dot-com age downturn when Executive Chairman Jeff Bezos advised financiers that “the stock is not the business, and the business is not the stock.”

Gerovich highlighted that Metaplanet’s Q3 Bitcoin earnings had actually increased 115.7% to ¥ 2.44 billion, which has to do with $16 million, quarter-on-quarter. Operating revenue came in 88% greater than projections. The business likewise reported a near debt-free balance sheet, with take advantage of under 1%.

Its aggressive purchasing method has actually drawn attention all year. On September 22, Metaplanet purchased 5,419 BTC for $632.5 million, raising its holdings to 25,555 BTC at the time. Ever since, additional acquisitions have actually taken the stash previous 30,000 BTC, sealing its position ahead of competitors like Bullish.

Stock efficiency stays unstable. On Friday’s session in Tokyo, shares closed at 622 yen, up 7.43% on the day however far listed below their annual peak of 1,930 yen. The stock is down almost 20% in September alone, even as it keeps a 70% gain year-to-date.

Gerovich kept in mind that the detach in between balance sheet strength and equity efficiency was annoying investors.

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“It’s unpleasant for our group, investors, and for me personally,” the CEO specified. “But just like Amazon, principles and share cost typically diverge– in some cases for months, in some cases longer.”

He likewise worried that the company’s long-lasting required is clear: collect Bitcoin and develop profits streams around it.

Bitcoin Volatility and Market Outlook

Bitcoin, which saw its cost drop dramatically towards $112,000 at the end of September, has actually given that supported, with the property trading around $120,000 at the time of this writing.

Market watchers are watching on this level to see if it can hold as a base for a brand-new push towards all-time highs. Some technical experts state that if the existing pattern continues, BTC might make a huge go up before completion of the year.