Tokyo-based Metaplanet is doubling down on its Bitcoin strategy with plans to leverage its crypto reserves to acquire cash-generating businesses—potentially including a digital bank in Japan. CEO Simon Gerovich revealed the company’s bold ambitions in a recent interview with the Financial Times, describing their approach as a “Bitcoin gold rush.”
“We need to accumulate as much Bitcoin as we can,” Gerovich said. “To get to a point where we’ve reached escape velocity and it just makes it very difficult for others to catch up.”
From Hotels to HODLing: A Strategic Pivot for Metaplanet
Originally a hotel operator, Metaplanet pivoted to Bitcoin in 2024 as a hedge against inflation. Since then, it has amassed 15,555 BTC and has set its sights on holding over 210,000 BTC—approximately 1% of the total supply that will ever exist—by 2027.
This aggressive accumulation is only phase one. In phase two, Metaplanet plans to use its Bitcoin as collateral, much like traditional assets such as government bonds, to secure financing for acquisitions.
Eyeing Fintech: A Digital Bank on the Horizon?
Gerovich hinted that one target for acquisition could be a digital bank within Japan, aligning with Metaplanet’s vision of delivering superior digital 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 noted.
Although crypto-collateralized lending remains a niche in traditional finance, it is gaining momentum. In April, Standard Chartered and OKX rolled out a pilot project enabling institutions to use crypto and tokenized money market funds as collateral—a move that signals growing institutional comfort with digital assets.
Financing Strategy: No Convertible Debt
To fund its expansion, Metaplanet is steering clear of issuing convertible debt, preferring preferred shares instead. “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,” Gerovich said.
Metaplanet’s vision represents a rare fusion of Bitcoin accumulation and corporate growth strategy, offering a glimpse into how crypto reserves could reshape the business expansion playbook in the digital age.
