Japan’s Metaplanet Reports $680 Million Unrealized Bitcoin Losses in FY2025
Japanese company Metaplanet, which specializes in managing Bitcoin reserves, reported unrealized losses of approximately USD 680 million during the 2025 fiscal year, driven by the decline in global cryptocurrency prices, according to the company’s preliminary financial data.
The figures show a USD 680 million decrease in the value of the company’s Bitcoin holdings, classified as a non-operating expense that does not directly affect cash flows or Metaplanet’s core operating activities.
As a result, the company expects to record a consolidated ordinary loss of around USD 640 million, alongside a consolidated net loss estimated at approximately USD 498 million. Total comprehensive losses attributable to shareholders are projected to reach about USD 351 million for the fiscal year ended December 2025. Final results are scheduled to be announced in mid-February.
Despite the accounting losses, Metaplanet reaffirmed its long-term strategy focused on accumulating Bitcoin and managing capital, noting that short-term volatility is a natural component of its business model.
During 2025, Metaplanet increased its Bitcoin holdings to 35,102 BTC by year-end, up from 1,762 BTC the previous year. The company disclosed that it spent approximately USD 451 million in the fourth quarter to acquire Bitcoin at an average price of USD 105,412 per coin, while Bitcoin was trading near USD 87,500 at the end of December.
