On Might 23, 2025, Metaplanet topped the checklist of Japanese shares as probably the most lively inventory. The identical day, Metaplanet grew to become the highest loser, which didn’t cease it from being the largest inventory in Japan because it nonetheless leads by a big margin. The corporate is allegedly on the point of an enormous quick squeeze just like the GameStop 2021 scenario. How did this small lodge operator develop into the fastest-growing inventory in Japan and a world function mannequin Bitcoin accumulator?
Whereas presently Metaplanet poses itself as “Japan’s first and solely publicly listed Bitcoin Treasury Firm,” it hasn’t all the time been like that. The corporate has a wealthy historical past predating Bitcoin’s existence, and Metaplanet’s newfound Bitcoin fame is simply the newest episode of a long term.
The corporate began in 1999. On the early stage, it had a unique title and was working in varied spheres. In 2010, Simon Gerovich, Metaplanet’s CEO, based a lodge enterprise with finances lodges in Thailand, the Philippines, Indonesia, and Japan.
The COVID quarantine harmed the lodge enterprise. Across the similar time, Gerovich realized about Michael Saylor’s Stratgy swap to Bitcoin.
The essential change occurred in 2024. Right here’s how the corporate places it on its web site:
“In 2024, Metaplanet’s administration launched into a strategic pivot, recognizing Bitcoin because the world’s most scarce financial asset and remodeled the corporate right into a Bitcoin Treasury Firm.”
Metaplanet bought all of the lodges however one. Ever since, Metaplanet has been following its new plan to aggressively stack bitcoins, that are seen as a long-term reserve asset. The corporate is working to accrue the wealth of Metaplanet’s shareholders and harness transparency and equity. The corporate’s goal is to make its inventory extra worthwhile than Bitcoin. On prime of this, Metaplanet consults different corporations about Bitcoin and Web3.
In 2026, Metaplanet plans to open its Bitcoin Lodge in Tokyo, mixing its lodge enterprise origins and the corporate’s present Bitcoin technique.
As we speak, Metaplanet is likely one of the few corporations that adopted the footsteps of Technique, turning into a Bitcoin-centred firm, typically referred to as “MicroStrategy of Asia.”
As of Might 23, 2025, Metaplanet holds 7,800 BTC. It might appear that it’s a humble quantity if we examine it to Technique, with its BTC stack exceeding 576,000 items. Nevertheless, Technique’s treasury is extraordinary, and Metaplanet is definitely one of many main company Bitcoin holders. Its Bitcoin treasury is round $800 million in worth and ranks tenth globally. To emphasise the importance of Bitcoin over fiat cash, the primary KPI metric utilized by Metaplanet is BTC Yield.
Earlier this Might, the corporate went by a powerful short-seller stress that didn’t cease it from gaining extra worth and persevering with its exponential development. It took solely a yr for Metaplanet to develop its inventory value from round 40 JPY to 1,000 JPY. In 2025, the inventory’s value gained over 420%.
Metaplanet’s year-to-date 291.3% return strikingly contrasts with the almost 5% decline of the Nikkei 225, a compound index reflecting the typical worth of the highest 225 Japanese shares.
Brief squeeze speculations and parallels with GameStop
Regardless of aggressive Bitcoin accumulation and speedy development, not all of the stats are bullish. In accordance with Metaplanet CEO Simon Gerovich, Metaplanet is probably the most shorted inventory in Japan. Whereas Bitcoin treasuries are considerably fashionable, and this trendiness attracts retail and institutional traders, hedge funds are betting towards Metaplanet and shorting its shares in bulk. Excessive volatility inside 12 months alerts an intense battle between Metaplanet bears and bulls.
Excessive volatility and nine-digit buying and selling volumes on the inventory alternate sign a potential high-scale quick squeeze of the Metaplanet inventory. It loosely resembles the 2021 GameStop inventory case. In 2021, hedge funds have been betting towards GameStop. Nevertheless, the activism of passion merchants from the Reddit group who collectively began to open lengthy positions resulted in an explosive 3,200% development of the GME inventory. Hedge funds couldn’t predict such an final result and misplaced $838 million in a single day.
As of Might 23, 2025, it’s unclear what the long run holds for Metaplanet inventory and if it can repeat the GameStop trajectory. If hedge funds are usually not proper about the way forward for Metaplanet, they’ll pay a hefty value for his or her mistake. Nevertheless, if the Bitcoin technique fails for Metaplanet, the corporate might get a severe slap.
