Metaplanet Targets Digital Bank Buyout as Part of Bitcoin Growth Plan

     

Japanese Firm Looks to Leverage BTC Holdings for Strategic Acquisitions

Japanese Bitcoin treasury firm Metaplanet is planning to use its growing stash of Bitcoin to acquire cash-generating businesses, with a digital bank in Japan being considered as one of the potential targets.

In a recent interview with the Financial Times, Metaplanet CEO Simon Gerovich said the company is in a race to accumulate as much Bitcoin as possible before shifting to the next phase of its expansion strategy.

“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 and it just makes it very difficult for others to catch up.”

The Tokyo-listed company, which originally operated in the hotel sector, pivoted to a Bitcoin strategy in 2024 as an inflation hedge. It currently holds 15,555 BTC and aims to grow that number to over 210,000 by 2027 – roughly 1% of Bitcoin’s total supply.

Bitcoin-Backed Financing Will Power Phase Two Expansion

In the second phase of its strategy, Metaplanet intends to use its Bitcoin holdings as collateral to raise capital for acquisitions. This approach mirrors how firms use traditional securities or sovereign bonds for leverage.

“We’ll get cash that we can use to buy profitable businesses,” Gerovich said, adding that a digital bank acquisition in Japan is under consideration. He believes Metaplanet could offer superior digital banking services compared to traditional retail options.

While using crypto assets for secured lending is still uncommon, banks like Standard Chartered have started exploring such models. In April, the bank and OKX began piloting a lending platform that accepts digital assets and tokenized money market funds as collateral.

Gerovich said the firm is unlikely to raise funds through convertible debt but is open to issuing preferred equity. “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.

Bitcoin Accumulation Continues With $237M Purchase

Metaplanet continued its buying spree this week by adding 2,204 BTC to its reserves at an average price of $107,700 per coin, totaling $237 million.

The latest acquisition brings the company’s total holdings to 15,555 BTC, purchased at an average cost of $99,985 each.

Despite limited revenue, Metaplanet’s stock has surged over 345% year-to-date, lifting its valuation beyond $7 billion. The company’s treasury-focused strategy mirrors that of Michael Saylor’s Strategy, which holds over 597,000 BTC and has a market capitalization of approximately $112 billion.