Japanese investment firm Metaplanet is mapping out its next move in the Bitcoin playbook, and this time it’s not just about stacking BTC.
The company, which pivoted from hospitality to Bitcoin accumulation, now says it's preparing to tap into its growing Bitcoin reserve to fund acquisitions, including possibly buying a digital bank, according to comments CEO Simon Gerovich made to the Financial Times.
A two-phase Bitcoin game plan
Metaplanet’s latest buy added 2,205 BTC to its holdings, bringing the firm's total to 15,555 BTC (worth around $1.7 billion).
That positions it as the fifth-largest Bitcoin holder among publicly listed companies, behind the likes of Strategy, Marathon Digital (MARA), the newly formed Twenty One, and Riot Platforms.
But Metaplanet isn’t just chasing leaderboard clout.
Gerovich describes the company’s current strategy as the first phase of a four- to six-year "Bitcoin accumulation" period.
The goal? To build a stack large enough that it gives the company “escape velocity,” making it difficult for other firms to catch up.
The next step, according to Gerovich, would be to treat Bitcoin as productive collateral, akin to government bonds or securities.
Once banks allow Bitcoin to be used in this way, Metaplanet hopes to secure favorable financing terms without selling any BTC.
Those funds, in turn, could be used to buy cash-flow-generating businesses.
Digital finance in the crosshairs
When it comes to targets, Gerovich hinted at the possibility of acquiring a digital bank in Japan, an institution that could align with Metaplanet’s broader mission of delivering more accessible financial tools.
“We can use Bitcoin to power the next wave of financial services,” he said, envisioning a world where holding BTC becomes an engine for institutional growth.
The strategy has its skeptics.
Critics have flagged the firm’s market premium over its net asset value and questioned the long-term sustainability of such aggressive BTC buys.
But Gerovich isn’t concerned. “I encourage people to short our stock if they don’t believe in the story,” he told the FT.
