Five Major Listed Companies’ Cryptocurrency Reserve Inventory
Currently, an increasing number of listed companies are actively implementing cryptocurrency asset reserve plans. This strategy has rapidly gained traction globally, especially after Trump won the U.S. presidential election and took office. It has become a new trend in corporate asset allocation. However, due to a combination of factors such as fluctuations in the global economic environment, panic triggered by policy uncertainties, and profit-taking, the cryptocurrency market has experienced severe volatility, resulting in many listed companies facing paper losses.
This article by PANews reviews five listed companies that have launched cryptocurrency reserve plans, all of which have generally increased their investment efforts since Trump’s election victory. However, with the significant pullback in the cryptocurrency market, the high-level purchases have led to a widespread increase in paper losses.
Among them, Strategy’s Bitcoin holdings have recorded paper losses exceeding $4 billion during this period, while companies such as Metaplanet, Semler Scientific, and SOL Strategies have also reported paper losses exceeding tens of millions of dollars, with their stock prices experiencing roller coaster-like fluctuations.
Strategy: Bitcoin Holdings Show Paper Losses Exceeding $4 Billion, Stock Price Retracts Over 40%
Since Trump won the U.S. election on November 6, 2024, Strategy has purchased approximately 276,000 BTC at an average price of $94,506 per coin, with a total investment cost of $25.679 billion. Based on the current Bitcoin price of $79,581 (as of April 8), this portion of Strategy’s Bitcoin holdings currently shows a paper loss of approximately $4.12 billion.
From the purchasing strategy of Strategy during this period, it is clear to observe a shift from aggressive expansion to cautious observation. Specifically, in November 2024, when Bitcoin prices were high, Strategy significantly increased its holdings by more than 134,000 BTC, accounting for about 48.7% of the total increase during this period, demonstrating its aggressive market expansion attitude and strong confidence in the long-term bullish market.
Entering 2025, as Bitcoin prices pulled back, Strategy adopted a more cautious approach, significantly reducing its purchasing volume and entering a wait-and-see period.
However, recently, Strategy has shown signs of re-initiating investments, with a recent investment of nearly $1.92 billion on March 31. Notably, Strategy did not further increase its Bitcoin holdings last week, maintaining a certain level of caution amid unclear market conditions.
Additionally, since November 6, Strategy’s stock price briefly soared to $473.8, with an increase of 83.77%, but subsequently continued to decline. As of April 8, its stock price has dropped approximately 43.4% from this peak.
Metaplanet: Accelerating Bitcoin Reserve Still Faces Paper Losses, Stock Price Hits Multi-Year High
Since November 6, 2024, Metaplanet has purchased 3,188 Bitcoins through 11 incremental purchases, with an average purchase price of $82,001, totaling over $260 million in spending. Based on the current Bitcoin price of $79,581 (as of April 8), this indicates that Metaplanet’s Bitcoin holdings currently show a paper loss of approximately $23.63 million.
Since starting to reserve Bitcoin in April 2024, Metaplanet has cumulatively spent over $360 million to purchase 4,206 BTC, indicating a significant increase in Bitcoin reserves following Trump’s election. However, based on the overall average purchase price of $86,500 for Bitcoin, Metaplanet currently has a paper loss of about $29.09 million.
From a timing perspective, since Bitcoin began to decline from its historical peak in January, Metaplanet has noticeably accelerated its purchasing pace, conducting nine incremental purchases in less than two months, totaling approximately 2,444 BTC, which accounts for 58.1% of its total holdings, reflecting its investment strategy of buying on dips.
It is noteworthy that this Japanese hotel development and operation company plans to increase its Bitcoin holdings to over 10,000 by 2025, aiming to rank among the top ten Bitcoin-holding companies globally. At the same time, during the fluctuations in Bitcoin prices, to strengthen its financial status, Metaplanet has recently fully repaid bonds worth 2 billion yen (approximately $13.5 million).
In terms of stock price performance, Metaplanet’s stock price surged to 665 yen after Trump’s election, marking an increase of 216.7%, reaching a new high since October 2013. However, as Bitcoin prices declined, its stock price also dropped nearly 49.2% from its peak.
Semler Scientific: Aggressive Bitcoin Accumulation at High Levels, Stock Price Gains Retracted
Since Trump’s election, Semler Scientific has significantly increased its Bitcoin holdings, cumulatively adding 2,134 BTC, which accounts for 66.8% of its current public holdings (3,192 BTC), with a total investment cost nearing $210 million.
However, its Bitcoin purchasing strategy shows clear characteristics of “buying at high levels”: compared to the previous average price of $69,682, the average purchase price during this period reached as high as $96,508. Based on the current Bitcoin price of $79,581, the company’s paper loss has exceeded $36.12 million.
In terms of stock price performance, Semler Scientific’s stock price experienced a brief surge during this period, peaking at $74.7, with an increase of up to 86.3%. However, the stock price subsequently fell, erasing all gains and failing to maintain its previous strong performance.
SOL Strategies: High-Level Accumulation with Paper Losses Over $10 Million, Stock Price Drops Over 60% After New High
SOL Strategies has cumulatively invested $29.4 million since Trump’s election, purchasing over 128,000 SOL, which accounts for 47.9% of its total holdings (267,000 SOL). However, its purchase timing has been concentrated at high prices. For instance, on February 3, 2025, SOL Strategies announced the purchase of 40,300 Bitcoins at a cost of $246; on January 27, 2025, it purchased 19,100 Bitcoins at a cost of $365.
This high-level buying strategy has resulted in SOL Strategies’ average purchase price reaching approximately $235. Based on the current market price of $108, its paper loss has exceeded $16.28 million. Nevertheless, SOL Strategies has used its holdings of over 265,000 SOL for staking, effectively alleviating some losses through staking rewards.
At the same time, SOL Strategies’ stock price has experienced significant fluctuations during this period, surging by 258.8% to $6.1, setting a historical new high. However, the stock price subsequently fell sharply, dropping 65.74% from its peak.
Remixpoint: High-Frequency Small Purchases of Bitcoin, Average Price Reaches $96,000
Japanese listed company Remixpoint began including cryptocurrency assets in its strategic reserves in 2024, covering BTC, ETH, SOL, and XRP, with BTC being its primary purchased asset. Since November 6 of last year, Remixpoint has significantly accelerated its BTC accumulation pace, investing over $46 million to purchase 483 BTC, which accounts for 78.4% of its total holdings (616 BTC). From an investment strategy perspective, Remixpoint adopts a high-frequency, small-amount purchasing method, controlling the purchase quantity to dozens of BTC at a time, with a single maximum of 56.3 BTC.
However, Remixpoint’s average purchase price for BTC is relatively high, reaching $96,807. Based on the current Bitcoin price of $79,581, the 483 BTC purchased have resulted in paper losses exceeding $8.32 million. If estimated based on the overall average holding price of approximately $86,000, Remixpoint’s paper loss would narrow to about $3.95 million.
Despite this, Remixpoint’s stock price performance during this period has been quite remarkable, soaring approximately 444% to $806, reaching a new high since October 2018. However, as of April 8, 2025, the stock price has retracted approximately 55.5% from its peak.
This article is collaboratively reproduced from PANews.