Metaplanet Inc (OTC:) now holds over 40K but faced a $725M loss in Q1. See how the BTC price dip hit their books. Plus, look at the recent performance of BTC.
Metaplanet announced a $725M quarterly loss as Bitcoin recorded its weakest first quarter since 2018. However, the company took the opportunity to announce the expansion of its Bitcoin holdings despite the loss. Notably, they now hold 40,177 BTC, which makes it the biggest Bitcoin-holding company outside the US. Against this backdrop, the BTC price has been on a downtrend recently.
Metaplanet Reveals Q1 2026 Results
Q1 of 2026 was unpredictable and quite hard on a lot of institutional Bitcoin holders. Metaplanet revealed that they have booked a net loss of ¥114,493M which is around $725M. The drop was mostly due to accounting valuation declines as the BTC price fell around 25% in that quarter. Although the headline shows a huge loss, the actual loss was not that bad considering the company’s other activities.
The company also revealed that its BTC holdings per fully diluted share increased 2.8% quarter-over-quarter from 0.0240486 BTC as of the end of December 2025 to 0.0247319 BTC as of the end of March 2026. Therefore, Metaplanet now manages approximately 87% of the BTC holdings by publicly traded Japanese companies.
Plus, net sales increased 251% year over year, while an operating profit of ¥2.27B (about $14.4M) was recorded due to an increase of 282% in that period. This shows that the company’s operations have been improving despite their BTC treasury being under a lot of pressure.
The BTC Price Goes on a Downward Trend
Meanwhile, Bitcoin has shown a weekly decline in terms of value. CoinMarketCap data points to the BTC price falling from around $81,470 to nearly $79,720 on the one-week chart. This could be seen as a slight correction as the value of Bitcoin managed to rise over 5% in the past 30 days.
The immediate resistance levels for BTC sit at $80,567 and $80,935. If the BTC price pushes past these levels, it may reach $81,210 which is its key resistance level. In the long run, a surge to $82,908 could follow, as this is where the 3-10-16 Day MACD stalls. On the other hand, its immediate support levels sit at $78,786 and $77,296. If these fail, the BTC price may fall to $73,556, which is its one-month low.
Technical Indicators Are Staying Bullish
Despite the short-term drop, the technical indicators for Bitcoin are still flashing buy signals. Investing.com data shows that the 13-day bull/bear power indicator has a value of 203 which is in the buy zone. In other words, buyers are growing stronger and are pushing the BTC price above its 13-day average.
Not only that, the 14-day CCI indicator also has a value of 117 which is in the green zone. This suggests that the BTC price is now higher than its 14-day average thanks to bulls. Both of these indicators combined indicate that the overall bullish momentum that BTC enjoyed on the monthly charts may not be losing its strength.
Institutional Demand for Bitcoin Still Growing
Metaplanet’s newest earnings report shows the different effects of institutional Bitcoin adoption. On one hand, the big volatility in earnings associated with their BTC holdings when the price drops is bad. On the other hand, Metaplanet continued to accumulate BTC during this period which shows they found the entry point favorable and are interested in its long-term potential.
It is also worth noting that the institutional accumulation of BTC through ETFs has not slowed down. For example, Morgan Stanley’s MSBT recently saw a milestone as it had over 30 days of no outflows. All these factors combined could be a reason for the continued growth of companies like Metaplanet, who increase demand for BTC during price slumps.