Metaplanet, the Tokyo-listed company increasingly known for its aggressive Bitcoin strategy, is preparing to use its crypto holdings to fuel business acquisitions—including the potential purchase of a digital bank in Japan.
Originally a hospitality firm, Metaplanet rebranded its mission in 2024 by adopting Bitcoin as a core treasury asset. In a recent interview with the Financial Times, CEO Simon Gerovich outlined a broader vision for the company’s crypto-backed trajectory.
“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 ambitions are sizable. It currently holds 15,555 BTC—worth over $1.68 billion at current prices—and plans to scale that figure to 210,000 BTC by 2027, roughly 1% of Bitcoin’s total fixed supply. According to Gerovich, the next phase of growth won’t be limited to asset stacking. The firm plans to deploy its Bitcoin as financial leverage to acquire cash-generating businesses.
Using Bitcoin as Collateral for Real-World Expansion
Phase two of Metaplanet’s strategy is centered on using its Bitcoin reserves as collateral to access traditional financing—replicating methods typically reserved for government bonds or high-grade securities. Gerovich believes this approach could help the firm break into new sectors, particularly financial services.
“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 said, hinting at a potential first target.
This strategy borrows elements from Michael Saylor’s playbook at Strategy, the Bitcoin-heavy U.S. firm that has used its holdings to raise capital through debt and equity markets. However, Gerovich clarified that Metaplanet will likely avoid convertible debt offerings. Instead, the firm is considering preferred shares to fund expansion without future repayment pressure tied to volatile share prices.
“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 noted.
While crypto-backed lending remains relatively rare in mainstream finance, the model is gaining traction. Earlier this year, Standard Chartered and OKX launched a pilot program that allows institutions to post crypto and tokenized money market assets as collateral for loans—suggesting the market may be warming to Metaplanet’s approach.
Bitcoin Purchases Continue Amid Soaring Valuation
Metaplanet’s ambitions are backed by consistent action. On Monday, the company added another 2,204 BTC to its treasury, spending $237 million at an average price of approximately $107,700 per coin. This purchase brought its total Bitcoin holdings to 15,555 BTC—acquired at an average cost of just under $100,000 each.
The firm’s stock has also seen a meteoric rise, climbing more than 345% since the start of the year. Its market capitalization now sits above $7 billion, a staggering figure for a company that generates limited operational revenue. Yet the bullish investor response reflects growing confidence in the firm’s Bitcoin-centric thesis—and the broader demand for corporate entities aggressively positioning around digital assets.
Metaplanet’s path closely mirrors that of Strategy, which now holds nearly 600,000 BTC and commands a market cap above $112 billion. While the scale is different, the ambition is similar: transform Bitcoin from a balance sheet asset into a foundation for enterprise expansion.
As Bitcoin adoption inches further into traditional finance and corporate strategy, Metaplanet is positioning itself as Asia’s most daring player in the race to reshape capital formation around digital currency.
Quick Facts
- Metaplanet now holds 15,555 BTC, aiming for 210,000 by 2027.
- CEO Simon Gerovich says the firm will use Bitcoin as collateral to acquire cash-flowing businesses.
- A Japanese digital bank is among potential acquisition targets.
- Metaplanet added 2,204 BTC this week, spending $237 million.
- Company stock is up 345% year-to-date with a market cap over $7B.
