Metaplanet, once a traditional hotel operator in Japan, has rapidly transformed into one of Asia’s most aggressive Bitcoin-focused companies. The Tokyo-listed firm, now embracing Bitcoin as a core asset, is executing a multi-phase strategy aimed at redefining its role in the digital financial landscape.
After beginning its Bitcoin accumulation in 2024 as a hedge against inflation, Metaplanet has amassed 15,555 BTC, worth over $1.6 billion at current prices.
CEO Simon Gerovich revealed in an interview with the Financial Times that this is only the beginning. “We think of it as a Bitcoin gold rush,” Gerovich said. “We need to accumulate as much Bitcoin as we can… to get to a point where we’ve reached escape velocity.” The company’s goal? To reach 210,000 BTC by 2027 — roughly 1% of all Bitcoin that will ever exist.
The urgency reflects Metaplanet’s view of Bitcoin not just as a store of value, but as strategic leverage. As its holdings grow, the company plans to use Bitcoin as collateral to finance a new wave of acquisitions. This is the crux of Metaplanet’s “Phase Two”: transforming digital assets into capital for purchasing profitable, cash-generating businesses.
Banking On Bitcoin
At the forefront of Metaplanet’s acquisition targets is a digital bank in Japan — a move that would combine Bitcoin’s financial clout with real-world financial infrastructure.
Gerovich envisions a future where Metaplanet provides digital banking services that outmatch traditional retail offerings. “Maybe it is acquiring a digital bank in Japan and providing digital banking services that are superior to the services that retail now is getting,” he explained.
While crypto-backed lending is still an emerging trend in traditional finance, momentum is building. Just recently, Standard Chartered and OKX piloted a program allowing crypto and tokenized money market funds to be used as collateral. Metaplanet could be among the first Japanese firms to leverage Bitcoin in a similar way — not by selling it, but by using it as a powerful financial tool.
Preferred Shares
Notably, Gerovich dismissed the idea of issuing convertible debt to fund growth, instead favoring preferred shares. “I don’t want to have to pay back the money in three, four years’ time and have [repayment] linked to an arbitrary share price,” he said, emphasizing a long-term view over short-term financing tactics.
Metaplanet’s aggressive strategy is already having a market impact. On Monday, the firm purchased an additional 2,204 BTC for $237 million, bringing its total holdings to 15,555 BTC at an average purchase price of approximately $99,985 per coin. Despite limited operating revenue, its stock has skyrocketed over 345% this year, pushing its market cap beyond $7 billion.
The firm’s trajectory echoes that of MicroStrategy, led by Michael Saylor, which holds over 597,000 BTC. With eyes set on financial services and digital dominance, Metaplanet is positioning itself not just as a Bitcoin accumulator — but as a bold architect of Japan’s future financial system.
