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Metaplanet, a major corporate holder of <a href="https://xpertsstudio.com/justin-sun-bitcoin-asia-panel-set-for-august-27/” title=”Justin Sun: Bitcoin Asia Panel Set for August 27″>Bitcoin, saw its shares close at ¥310 on August 26, down 6.06% from the previous day. Bitcoin had briefly topped $81,200 the prior day before slipping below the $80,000 threshold on the 26th, trading around $79,000. The pullback triggered profit-taking in Metaplanet shares, which had surged roughly 45% over the previous five trading sessions. Major altcoins including Ethereum and XRP also weakened, with selling spreading to other crypto-related Japanese stocks such as Remixpoint and ANAP Holdings. Metaplanet’s unrealized Bitcoin losses had improved by approximately ¥78.4 billion amid the recent market recovery, though the company’s holdings remain below its average acquisition cost.
Key Elements
As the cryptocurrency market rally paused, shares of Metaplanet (3350.T), a major corporate holder of Bitcoin (BTC), closed at ¥310 on August 26, down ¥20 (6.06%) from the previous day. With BTC having surged over the past week before breaking below the $80,000 threshold, profit-taking spread across Metaplanet shares as well.
▲ The causal chain behind Metaplanet’s sharp rise and fall. The reversal in BTC prices served as the catalyst for both the stock’s rally on improving unrealized losses and the subsequent sell-off.
According to CoinMarketCap, BTC rose significantly over the past week, briefly topping $81,200 on the 25th. However, on the 26th it fell below $80,000 and traded around $79,000, losing momentum from the prior day’s gains. Major altcoins were also soft, with Ethereum (ETH) down more than 1% and XRP down more than 4%.
Metaplanet shares had posted substantial gains alongside BTC’s rise. According to Yahoo! Finance, the stock had climbed approximately 45% in just five trading sessions, from a closing price of ¥228 on August 18 to ¥330 on the 25th. On the 26th, however, the stock fell as low as ¥299 intraday before closing at ¥310. With the BTC rally stalling, the catalyst that had underpinned the recent share price surge weakened, and Metaplanet shares pulled back accordingly.
Selling also spread to other Japanese stocks investing in Bitcoin. Remixpoint (3825.T), ANAP Holdings (3189.T), Def consulting (4833.T), and Escript Energy (5721.T) all posted sharp declines.
These companies are classified as “crypto treasury companies” that hold Bitcoin and other crypto assets using their own capital as a core part of their financial strategy. Comparing the holdings of major publicly disclosed Japanese companies, Metaplanet’s scale stands out dramatically.
| Company | BTC Holdings | Data as of |
|---|---|---|
| Metaplanet (3350.T) | 43,000 | End of June 2026 |
| Nexon (3659.T) | 1,717 | April 2021 (no change since) |
| Remixpoint (3825.T) | 1,491 | July 3, 2026 |
| ANAP Holdings (3189.T) | 1,432 | July 6, 2026 |
| Convano (6574.T) | 763 | July 6, 2026 |
| Escript Energy (5721.T) | 296 | Latest disclosure |
▲ Data from crypto holdings tracker “DEEPPOINT” (as of July 2026). There are reportedly 19 publicly disclosed Japanese companies holding crypto assets, with Metaplanet accounting for over 80% of the total as the largest holder.
Recent improvement in unrealized losses drove the share rally
The sharp rise in Metaplanet shares was driven by the rapid narrowing of unrealized losses on its Bitcoin holdings. According to the NADA Index, the Bitcoin price at 3:30 p.m. on August 25 reached ¥12.87 million per BTC.
Based on this level, the company’s unrealized losses on its Bitcoin holdings amounted to approximately ¥105.85 billion (approximately $664.0 million), an improvement of roughly ¥78.45 billion (approximately $492.1 million) from the interim results period in mid-August. In its interim results for the fiscal year ending December 2026, announced on August 13, the company had booked ¥184.3 billion (approximately $1.2 billion) in Bitcoin unrealized losses, reflecting the market decline as of end-June (around ¥9.67 million per BTC).
According to the company’s disclosures, it held 43,000 BTC as of end-June, with a total acquisition cost of ¥659.26 billion (approximately $4.1 billion) and an average acquisition price of approximately ¥15.33 million per BTC. With the market recovery that began around August 20, the market value of its Bitcoin holdings had recovered to approximately ¥553.41 billion (approximately $3.5 billion).
Overheating concerns surface as the rally pauses
The latest decline may signal that the broader crypto market is entering a correction phase. After rising to the $81,200 level on the 25th, BTC fell below $80,000 on the 26th and was pushed back to around $79,000. Profit-taking following the rapid short-term surge appeared to dominate.
According to crypto-focused media outlet Crypto.news, BTC’s daily relative strength index (RSI) had climbed to 82.44 as of the 26th, well above the 70 level generally considered overbought territory. BTC had risen approximately 25% from the $63,000–$65,000 range, and correction pressure from the rapid ascent appeared to be intensifying. U.S. spot Bitcoin ETFs saw inflows of $337.56 million as of August 24 (BlackRock’s IBIT at $208.9 million and Fidelity’s FBTC at $104.6 million), which had helped underpin the recent rally. Analyst Ted Pillows noted that bearish divergence had emerged on the 4-hour chart and suggested a correction to the $72,000–$74,000 range was possible.
Share prices of crypto-holding companies like Metaplanet are extremely highly correlated with BTC prices. Given that the recent stock rally had been supported by BTC’s sharp rebound, the episode once again highlighted the structural reality that when the crypto market pauses, these stocks are forced to correct as well.
The company’s average acquisition cost is approximately ¥15.33 million per BTC, while the current BTC price (approximately ¥12.87 million, or approximately $81,000) remains below that level. For unrealized losses to be fully eliminated, BTC prices would need to rise further. Market participants note that as long as the direction of the crypto market remains uncertain, Metaplanet shares are likely to continue experiencing high volatility.
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Source: finance.biggo.com