TLDR
Metaplanet’s stock surged 3,600% in 12 months after pivoting from hotel development to Bitcoin investment, making it Japan’s fastest-rising stock with current holdings of 1,762 BTC valued at $171 million.
The company aims to expand its Bitcoin holdings to 21,000 BTC by 2026 and plans to raise $750 million through a 21 million share issuance, marking Asia’s largest equity capital raise for Bitcoin.
CEO Simon Gerovich, a former Goldman Sachs trader, modeled the company’s strategy after Michael Saylor’s Strategy (formerly MicroStrategy), which holds over $45 billion in Bitcoin.
Japan’s new Nippon Individual Savings Account program has made Metaplanet attractive to retail investors as a tax-free alternative to direct Bitcoin purchases, growing its shareholder base by 500% in 2024.
The company plans to rebrand its remaining Tokyo hotel as “The Bitcoin Hotel” and expects to report its first profit after six years of losses in the upcoming fourth quarter.
In a bold transformation that has caught the attention of investors worldwide, Japanese company Metaplanet Inc. has seen its stock price surge by 3,600% over the past 12 months. The former hotel developer has become Japan’s fastest-rising stock after switching to a Bitcoin-focused investment strategy.
The company currently holds 1,762 Bitcoin, valued at approximately $171 million. This holdings came after a major shift in business strategy that began in early 2024, when pandemic-related challenges forced the closure of most of its hotel properties.
At the helm of this transformation is CEO Simon Gerovich, who previously worked as an equity derivatives trader at Goldman Sachs. Gerovich has taken inspiration from Michael Saylor’s Strategy (formerly MicroStrategy), which has built up Bitcoin holdings worth over $45 billion.
The timing of Metaplanet’s pivot coincided with a surge in Bitcoin’s value, which reached an all-time high of $109,000 on January 20, 2025. While Bitcoin has since pulled back to $97,000 as of February 10, Metaplanet’s stock has continued its upward trajectory.
The company has set ambitious targets for its Bitcoin acquisition strategy. It aims to increase its holdings to 10,000 Bitcoin by the end of 2025 and reach 21,000 Bitcoin by the end of 2026.
To fund these goals, Metaplanet plans to issue 21 million new shares, hoping to raise approximately $750 million. This would represent the largest equity capital raise for Bitcoin in Asia’s history.
The company’s shareholder base has grown dramatically, increasing by 500% in 2024 to reach nearly 50,000 investors. While some institutional investors like Capital Group have taken positions, most of Metaplanet’s investors are retail traders.
A key factor driving retail interest is Japan’s new Nippon Individual Savings Account program, launched in early 2024. The program allows Japanese citizens to invest in stocks without paying taxes, making Metaplanet an attractive alternative to direct Bitcoin purchases, which can face capital gains taxes up to 55%.
The company hasn’t completely abandoned its hospitality roots. It plans to rebrand its remaining property, the Royal Oak hotel in Tokyo’s Gotanda district, as “The Bitcoin Hotel.” The location will host Bitcoin-related seminars and investor events.
Despite the stock’s massive rise, Metaplanet has faced financial challenges. The company has reported losses for six consecutive years, though it expects to show a profit in its upcoming fourth-quarter earnings report.
The company’s value now closely tracks Bitcoin’s performance, creating potential risks for investors. A sharp drop in Bitcoin’s price could lead to a reversal in the stock’s value.
Market analysts note that Metaplanet’s strategy mirrors that of Strategy in the United States. Both companies have made Bitcoin acquisition their primary focus and serve as vehicles for stock market investors to gain exposure to Bitcoin.
The surge in Metaplanet’s stock price reflects growing interest in Bitcoin investment vehicles. Traditional investors often prefer buying shares in Bitcoin-holding companies rather than directly purchasing cryptocurrency.
Looking ahead, Metaplanet continues to focus on its Bitcoin acquisition strategy. The planned share issuance will be crucial for reaching its target of 21,000 Bitcoin by 2026.
The company’s transformation has created a new model for corporate Bitcoin investment in Japan, though the long-term success of this strategy remains tied to Bitcoin’s market performance.
