Metaplanet Targets Digital Bank Purchase in Second Phase Bitcoin Strategy

Japanese firm Metaplanet plans to acquire a digital bank in Japan using its Bitcoin reserves as collateral for financing. According to Cointelegraph, CEO Simon Gerovich outlined this acquisition strategy during a recent Financial Times interview. The Tokyo-listed company aims to use Bitcoin holdings like traditional securities or government bonds to access capital.

Metaplanet currently holds 15,555 BTC valued at approximately $1.68 billion. The company purchased 2,204 Bitcoin for $237 million on Monday, July 7, at an average price of $107,700 per coin. Gerovich described the current period as a "Bitcoin gold rush" where the company must accumulate maximum holdings before reaching "escape velocity."

The firm originally operated hotels but pivoted to Bitcoin accumulation in 2024 as an inflation hedge. Metaplanet targets holding over 210,000 BTC by 2027, representing 1% of Bitcoin's total supply. The company's stock has climbed 345% this year, pushing its market capitalization above $7 billion despite limited operational revenue.

Why This Development Matters

This acquisition strategy represents a new model for Bitcoin-backed corporate expansion in Asia's banking sector. Metaplanet's approach allows the company to leverage Bitcoin appreciation without liquidating holdings, preserving potential future gains. According to U.Today, Metaplanet now ranks as the fifth-largest Bitcoin treasury company globally, behind Michael Saylor's Strategy.

The planned digital bank acquisition could provide superior financial services compared to current retail banking options in Japan. Gerovich stated that future acquisitions would align with the company's Bitcoin-focused strategy, potentially creating new revenue streams. We previously reported that Metaplanet became Asia's largest corporate Bitcoin holder with $414 million in holdings earlier this year.

This strategy mirrors Strategy's approach but adapts it to Japan's regulatory environment and market conditions. The company ruled out convertible debt issuance but remains open to preferred shares for growth funding. This financing preference avoids arbitrary share price links and fixed repayment schedules.

Industry Impact and Future Trends

Metaplanet's banking ambitions could accelerate crypto-backed lending adoption among traditional financial institutions in Asia. According to Blockworks, the Bitcoin-backed lending market reached $8.5 billion in August 2024 and is projected to grow to $45 billion by 2030. Leading companies like Ledn originated $114 million in loans during January 2025 alone.

The move comes as crypto-backed lending gains institutional acceptance worldwide. In April, Standard Chartered and OKX launched a pilot program allowing institutions to use crypto and tokenized money market funds as collateral. However, crypto-backed lending remains rare in traditional banking despite growing institutional interest.

Metaplanet's stock performance demonstrates investor confidence in Bitcoin treasury strategies. The company mirrors Strategy's model, which holds over 597,000 BTC with a $112 billion market cap. This approach could influence other Japanese corporations to consider similar Bitcoin-based expansion strategies, potentially creating a new corporate finance model in Asia's largest economy.