Metaplanet posts $619 million net loss on bitcoin valuation as holdings climb to 35,102 BTC

Metaplanet, the publicly traded investment firm, has reported a net loss of $619 million for the latest fiscal period, primarily attributed to the mark-to-market valuation of its significant cryptocurrency holdings. Despite the reported financial loss, which reflects the accounting treatment of digital asset price volatility, the company has continued its aggressive acquisition strategy. During the reporting period, Metaplanet significantly increased its reserves, bringing its total holdings to 35,102 BTC. The company’s management reiterated their commitment to a ‘Bitcoin-first’ treasury policy, viewing the digital asset as a superior long-term reserve asset despite short-term market fluctuations that impact the bottom line under current reporting standards. This move further solidifies Metaplanet’s position as one of the leading corporate Bitcoin holders globally.

Source: Metaplanet posts $619 million net loss on bitcoin valuation as holdings climb to 35,102 BTC