Bitcoin Crash Triggers Stock Drops Across Crypto-Exposed Firms
Bitcoin’s recent drop to $74,500 has affected both the crypto and stock markets. This decline, caused by tariff tensions under President Donald Trump, has not only impacted individual investors but also companies like Metaplanet and Semler Scientific, which hold large amounts of Bitcoin and have seen their stock prices decrease.
Bitcoin has now fallen 33% from its January high, reaching its lowest point in five months. This decline has put pressure on major corporate holders like MicroStrategy, which bought Bitcoin for $35.6 billion and currently holds an unrealized gain of about $3.9 billion. However, if prices continue to slide, this gain may not provide much protection.
Metaplanet, which holds 4,206 BTC purchased at an average price of ¥88,800 each, is now facing a 15% loss due to Bitcoin’s recent dip. The company’s stock also dropped 20% in a single day, raising concerns about its crypto-heavy strategy.
Semler Scientific is experiencing similar troubles. It bought Bitcoin at an average price of ¥87,854, but with Bitcoin down 20% this year, the company’s stock has fallen by 38%. Metaplanet’s stock is down 15%, while MicroStrategy has only seen a small 2% decline.
Despite the market drop, Strategy still holds a significant amount of BTC, currently worth about $39.5 billion. The company’s average purchase price is $67,458 per coin, so it remains profitable. Even if Bitcoin drops below their average cost, Strategy is not at risk of liquidation. Its stock is trading at a premium, almost double the value of its Bitcoin holdings.
In other news, Metaplanet announced on April 4, 2025, that it had fully repaid its 9th Series of Ordinary Bonds worth 2 billion JPY. This repayment is not expected to have a significant impact on Metaplanet’s financial results for the year. The company also secured ¥2.63 billion to increase its Bitcoin holdings, adding 696 BTC and bringing its total to 4,046 BTC. Additionally, Metaplanet’s Bitcoin Income Generation business earned ¥770 million in Q1, with a 95.6% return on Bitcoin for the year so far.
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