Metaplanet (MTPLF) stock fell even as it posted strong third-quarter results with ¥2.44 billion in Bitcoin revenue, higher profit, and a growing balance of 30,823 BTC worth $3.7 billion.
Despite these results, its stock has dropped, showing a gap between performance and market reaction.
Metaplanet has reported sharp growth in its third-quarter results. The company earned ¥2.44 billion in Bitcoin income revenue.
This marked a 115.7% rise compared with the previous quarter. Operating profit also came in higher, beating forecasts by 88%.
The company said its balance sheet is almost debt-free, with leverage below 1%.
Leaders also highlight that there is now a clear path to the use of preferred shares in the future. Despite this progress, Metaplanet’s stock price has moved down.
In his recent post on social media, Chief Executive Officer Simon Gerovich revealed some important updates on the firm.
He compared the firm’s outlook with Amazon in the early 2000s. After the dot-com boom, Amazon’s share price fell even though the business was growing.
Gerovich recalled Jeff Bezos’ words from that period: “The stock is not the company, and the company is not the stock.”
According to his update, he noted that Metaplanet is facing a similar moment.
In his view, share prices do not always reflect the real state of a company. This gap, he explained, can last for months or longer.
He also drew a link with Bitcoin itself. The digital asset has seen repeated drawdowns of 70% to 80% in the past.
However, he said its fundamentals grew stronger after those periods. He believes Metaplanet is going through a similar cycle now.
Bitcoin Holdings Grow to $3.7 Billion
Metaplanet’s latest filing shows it now holds 30,823 BTC. The company values this amount at about $3.7 billion.
It is important to mention that with this total, it has become the fourth-largest corporate holder of Bitcoin worldwide.
The company added 5,268 BTC to its balance sheet in its most recent purchase. This came at an average price of $116,870 per coin.
According to the filing, the transaction is worth around $615 million. This addition raised its year-to-date Bitcoin yield to 497.1%.
Metaplanet says these figures matter because they show how its treasury strategy supports shareholders.
By tracking the growth of its Bitcoin assets in yen terms, the company says it can show real progress beyond changes in share count.
The latest purchase also moved the company up in global rankings. It now holds more Bitcoin than the Bitcoin Standard Treasury Company, placing it in fourth position among corporate holders.
It is important to add that in his update, Gerovich emphasized that Metaplanet is focused on execution.
He said the mandate is simple: keep building revenue, keep adding Bitcoin, and keep the company strong for the long term.
He explained that while Metaplanet stock prices may fall, the company will stay on course. Its strategy is built on discipline rather than reacting to short-term market moves.
The company wants to maintain strong fundamentals while preparing for future growth.
Leaders believe resilience and a steady focus on results are more important than short-term stock movements.
Gerovich closed his remarks by stating that Metaplanet remains focused on securing its future with Bitcoin.
He said the company will continue to follow its plan even if the market response is slow to match the results.