How did Metaplanet turn a struggling hotel firm into Asia’s fastest-growing Bitcoin proxy, and is a 7,500% stock surge a sign of strength or euphoria?

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Metaplanet Inc. (MTPLF), a Japan-listed firm, has officially surpassed Tesla in corporate Bitcoin (BTC) holdings following its latest purchase of 1,234 BTC.

In a disclosure filed on Jun. 25, the company stated that it acquired the bitcoins for approximately 19.3 billion yen, or around $133 million, paying an average price of about 15.6 million yen, roughly $107,900, per BTC.

With this latest purchase, Metaplanet’s total Bitcoin holdings have reached 12,345 BTC, placing it ahead of Tesla, which holds 11,509 BTC. 

The company is now the fifth-largest public holder of Bitcoin globally. The only firms with larger holdings are Strategy, Marathon Digital, Galaxy Digital, and Riot Platforms, all of which operate with a crypto-native focus.

Metaplanet began its Bitcoin accumulation strategy in April 2024. Since the start of 2025, the total value of its BTC holdings has risen by 315%, reflecting both the timing of its purchases and the broader surge in Bitcoin’s price.

Investor sentiment has remained strong. Earlier in June, when the company announced plans for its latest acquisition, its stock rose nearly 7% in a single trading day, reaching a high of 1,595 yen, or approximately $11.

Why a Bitcoin strategy made sense

Metaplanet was founded in 1999 and spent much of its early life in traditional industries, primarily operating in hospitality and corporate services. 

The company managed hotels and ran an investor relations consultancy, remaining a relatively low-profile business in Japan’s broader economic environment.

Over time, financial challenges began to emerge. Japan’s economy was also showing signs of deeper strain, shaped by long-term structural stagnation, rising public debt, and persistently low

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Author: Ankish Jain

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