Japanese investment firm Metaplanet is charting an aggressive expansion plan powered by Bitcoin. According to CEO Simon Gerovich, the Tokyo-listed company plans to leverage its growing Bitcoin (BTC) reserves to acquire profitable businesses—including the potential purchase of a digital bank in Japan.
“We think of it as a Bitcoin gold rush,” Gerovich told the Financial Times. “We need to accumulate as much Bitcoin as we can... to reach escape velocity and make it difficult for others to catch up.”
Originally a hotel operator, Metaplanet pivoted to a Bitcoin-focused strategy in 2024 as a hedge against inflation. Since then, the company has made headlines with its massive BTC purchases. On Monday, it added 2,204 BTC for $237 million, bringing total holdings to 15,555 BTC—worth over $1.68 billion at the current price of $108,408 per coin.
Its average purchase price now stands at $99,985 per BTC, and the company’s market cap has surged 345% year-to-date, surpassing $7 billion, despite limited operational revenue.
Gerovich revealed that Metaplanet’s next phase involves using its BTC holdings as collateral—akin to traditional financial assets like government bonds—to access liquidity for expansion.
“We’ll get cash that we can use to buy profitable businesses,” he said.
Among the potential targets: a digital bank in Japan. Metaplanet aims to disrupt legacy financial services by acquiring and upgrading platforms with Bitcoin-backed capital, aligning with its long-term vision of creating value through digital financial infrastructure.
While crypto collateral remains rare in mainstream finance, the tide is turning. In April, Standard Chartered and OKX launched a pilot program allowing institutional clients to use crypto and tokenized money market funds as collateral for loans—signaling growing acceptance of digital assets in traditional financial systems.
Gerovich also noted the company won’t issue convertible debt to fund growth, citing risk to shareholders. However, Metaplanet is open to issuing preferred shares that offer non-dilutive financing.
“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.
Metaplanet’s bold strategy mirrors that of MicroStrategy, led by Bitcoin evangelist Michael Saylor, whose firm holds over 597,000 BTC and commands a market cap above $112 billion.
By aiming to accumulate 210,000 BTC by 2027—about 1% of Bitcoin’s total supply—Metaplanet is placing itself at the forefront of institutional Bitcoin adoption in Asia.
July 2025, Cryptoniteuae