Key Takeaways
- Metaplanet is the 9th largest corporate holder of Bitcoin with 10,000 BTC worth over $1 billion.
- Its stock price has gained over 2,000% since 2024.
- Metaplanet is now aiming to acquire 100,000 BTC by the end of 2026, and 210,000 by the end of 2027.
After launching as a budget hotel firm in Japan, the COVID-19 pandemic prompted the hotelier to lean toward crypto and Web3 to weather the storm.
However, when the firm decided to become a Bitcoin-first company in 2024, little did it know that it would go on to become one of the most closely watched entities in crypto.
Now, having achieved its 10,000 BTC target months ahead of schedule, and a new 2026 goal of 100,000 BTC, all eyes remain on Metaplanet.
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A Crypto Calling
Originally known as Red Planet Japan, Metaplanet began its journey as a budget hotel business, opening several hotels across Japan between 2013 and 2020.
However, when COVID arrived in 2020, tourism and hospitality were among the first sectors to be hit.
This prompted the firm to pivot towards crypto, Web3, and non-fungible tokens (NFTs), offering consulting and blockchain infrastructure services.
This period served as an education, laying the groundwork for the April 2024 rebrand to Metaplanet.
Following in the footsteps of Strategy’s (formerly MicroStrategy) Michael Saylor, Metaplanet CEO Simon Gerovich would take the bold leap of turning Metaplanet into a Bitcoin-first company and go all-in on BTC.
Following its shift to Bitcoin, Metaplanet would honor its origin story by rebranding its last-remaining property, the Royal Oak Hotel, into the “Bitcoin Hotel.”
Becoming Bitcoin-First
In order to acquire and adopt BTC, Metaplanet had to start raising funds. It first began with stock acquisition rights offerings, raising tens of millions for the sole purpose of purchasing BTC.
Initially, the firm’s purchases were modest, and it was acquiring BTC in batches of a few dozen on average. Though it targeted a 1,000 BTC portfolio goal, it began ramping up these purchases considerably.
By the end of 2024, the firm’s stash stood at 1,761 BTC.
It wouldn’t make another purchase until February 2025. But following this, it would aggressively pursue its new goals: 10,000 BTC by the end of 2025, and 21,000 by the end of 2026.
Following a months-long spending spree, Metaplanet reached its 10,000 BTC goal months ahead of schedule.
And now, as it moves forward with plans to raise approximately $5.4 billion solely to buy more BTC, the firm has set its sights on acquiring 100,000 BTC by the end of 2026, and more than double that by the end of 2027.
Metaplanet Rises
As per Yahoo Finance, Metaplanet’s 2024 garnered considerable attention from investors, who steadily leaned toward the firm as its BTC gambit showed promising signs of growth.
The firm’s stock has risen profoundly, gaining around 2,460% in the past 2 years. So far this year, it’s up 444.54%, making it one of the best-performing stocks in Japan.
The stock has since jumped up another 25% in the past 24 hours as investors rally behind it.
Additionally, the firm plans to expand to the U.S. with its Metaplanet Treasury Corp subsidiary, which will open up to Western investors and further fuel its BTC accumulation strategy.
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