BTC reserve strength is paying off, Asian crypto king Metaplanet's stock price doubles in a month
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BTC reserve strength is paying off, Asian crypto king Metaplanet's stock price doubles in a month
From MicroStrategy to Metaplanet, Bitcoin is being added to the balance sheets of an increasing number of companies.
Navigating Web3 tides with focused insightsAuthor: Dingdang, Odaily
On May 20, shares of Japanese-listed company Metaplanet surged past 780 yen, rising 14.6% for the day and doubling over the past month. CEO Simon Gerovich revealed that Metaplanet has become one of the most heavily shorted stocks in Japan.
This situation evokes memories of U.S.-listed firm Strategy (formerly MicroStrategy), whose pioneering decision to include Bitcoin on its corporate balance sheet not only brought financial success but also sparked a global wave of traditional companies embracing crypto assets. However, as its market cap climbed, Strategy became a prime target for short sellers. Now, Metaplanet appears to be reenacting this battle between bulls and bears, writing its own legend driven by its Bitcoin strategy.
Metaplanet: Financial Breakthrough Through Bitcoin Strategy
Metaplanet's bold move to establish Bitcoin as a core treasury asset was no impulsive decision. It reflects a deep understanding and forward-looking judgment of an increasingly complex global financial environment.
As a domestic Japanese company, Metaplanet faces the dual challenge of persistent yen depreciation and prolonged ultra-low interest rates, making it difficult for traditional assets to preserve or grow value under these conditions. Bitcoin, with its scarcity, decentralization, and censorship resistance, serves as a powerful hedging instrument—protecting against both inflation and monetary policy uncertainty.
Starting in 2024, with assistance from Sora Ventures, Metaplanet began consistently purchasing Bitcoin through share issuances and bond financing, becoming the first publicly listed Japanese company to hold significant Bitcoin reserves. This marks not only a firm step into the global crypto economy but also sets a groundbreaking precedent for Japanese firms in the digital asset space.
Metaplanet’s Q1 2025 financial report strongly validates the effectiveness of this strategy. The report shows revenue reaching $6.139 million, up 8% quarter-on-quarter and a staggering 943% year-on-year; net profit reached $4.151 million, an 11% increase from the previous quarter. Notably, 88% of profits came from Bitcoin options trading, underscoring how crypto assets have become central to its income structure.
To date, Metaplanet holds 6,796 Bitcoins, ranking 10th globally among public companies and 1st in Asia. The company plans to increase its Bitcoin holdings to 10,000 BTC by year-end. Despite ongoing attacks from short sellers, its stock has doubled in the short term, clearly indicating market confidence in its "Bitcoin standard" strategy.
Broadening Perspective: Global Companies Joining the Bitcoin Movement
Metaplanet’s success is merely a snapshot of a broader global trend of companies adopting Bitcoin. Since 2025, an increasing number of firms have been incorporating Bitcoin into their balance sheets in diverse ways, building their own crypto strategies.
Strive: Acquiring Bitcoin at a Discount via Mt. Gox Claims
Strive, led by Vivek Ramaswamy, has taken an alternative path—acquiring approximately 75,000 Bitcoins at a discount by purchasing claims against the bankrupt Mt. Gox exchange. According to regulatory filings, the company is collaborating with 117 Castell Advisory Group LLC to complete the acquisition of these court-recognized claims before Mt. Gox begins repayments on October 31, 2025.
This "contrarian investment" strategy leverages structural market opportunities and increases per-share Bitcoin exposure through reverse merger mechanisms, offering potential upside for shareholders.
AsiaStrategy: Dual Transformation from Luxury Goods to Bitcoin
Former Asian watchmaker Top Win, now renamed AsiaStrategy, completed a strategic pivot toward Bitcoin in 2025. After partnering with Sora Ventures, its stock soared more than 60% in pre-market trading. Founder Jason Fang joined the board and co-leads as Co-CEO alongside Tony Ngai, marking the company’s official transition from traditional manufacturing to integrated fintech development.
AsiaStrategy will continue acquiring Bitcoin while maintaining its watch business, opening new possibilities for digital asset adoption in traditional industries.
Meliuz: A Brazilian Retailer’s Inflation Hedge Path
In the face of high inflation and currency depreciation, South American firms are also seeking safe-haven assets. Brazilian listed company Meliuz has proposed amending its charter to formally include Bitcoin investments as part of its corporate purpose. The proposal will be voted on at a shareholder meeting on May 6, 2025. If approved, the company will use operating cash flow to continuously invest in Bitcoin, reflecting strong recognition of and reliance on the long-term value of crypto assets.
GameStop: A Cautious Move by a Retail Giant
American game retailer GameStop is also gradually embracing crypto assets. Its revised 2025 investment policy now permits inclusion of Bitcoin and stablecoins in its treasury reserves. While the document highlights volatility risks, this move signals cautious endorsement of crypto’s potential and sends an important message for other traditional companies considering transformation.
Conclusion
Metaplanet’s breakthrough may just be the beginning. It represents a broader shift among global enterprises exploring new models of asset allocation amid uncertainty. Whether through direct purchases, arbitrage on claims, business integration, or strategic experimentation, Bitcoin is becoming an unavoidable component in corporate asset management.
As more and more companies begin treating Bitcoin as "digital gold" within their core financial planning, we are witnessing the unfolding of a new global experiment in asset restructuring.
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