Bitcoin briefly sank toward $60,000 before rebounding above $65,000, after a steep double-digit decline on Thursday that extended a brutal drawdown that has now taken the maiden crypto over 47% below its October 2025 peak. The turbulence has spread across the crypto market, hitting crypto-exposed companies such as Metaplanet, Asia’s largest publicly traded holder of Bitcoin. Still, the Tokyo-listed investment and operating firm is not throwing in the towel yet. Metaplanet CEO Simon Gerovich has confirmed that the company is sticking with its Bitcoin accumulation strategy despite the asset’s recent brutal downfall. “[T]here is no change to Metaplanet’s strategy. We will steadily continue to accumulate Bitcoin, expand revenue, and prepare for the next phase of growth,” Gerovich wrote in a translated post on Friday. Metaplanet currently holds 35,102 BTC, the fourth-largest among publicly traded companies, trailing only Michael Saylor’s Strategy, MARA Holdings, and Twenty One Capital. Advertisement Late last month, Metaplanet announced plans to raise up to 21 billion yen ($137 million) via the issuance of new shares and a series of stock acquisition rights to pay down its debt and buy more Bitcoin. Bitcoin Treasuries Face Massive Unrealized Losses Investor fear in the crypto market has surged to a level not seen since the Terra Luna ecosystem crash in mid-2022, following the devastating selloff. Specifically, the Crypto Fear and Greed Index has fallen to 9, firmly in “Extreme Fear” territory and at its lowest reading in 42 months since Terra’s implosion— signaling a major breakdown in market confidence. With Bitcoin falling 6.8% over the last 24 hours to a recent price of $65,865, down roughly 20% in the last seven days, Metaplanet is currently sitting on huge losses on its balance sheet. However, like Strategy, Metaplanet has not signaled plans to unwind its exposure or liquidate its Bitcoin holdings. The Gerovich-led company has a target of owning 210,000 BTC by the end of 2027 .