MetaPlanet's Bitcoin journey began in May 2024, when the company announced its first purchase of 117.7 BTC for approximately $7.2 million. This was a strategic pivot announced with all the solemnity of a corporate manifesto.
The company adopted what it called a "Bitcoin treasury strategy," positioning the cryptocurrency as its primary treasury reserve asset. This decision came with a comprehensive restructuring of the company's operations and philosophy.
They now own more Bitcoin than El Salvador.
Let that sink in. A Japanese hotel company owns more Bitcoin than an entire country that made Bitcoin legal tender.
Since that initial purchase, MetaPlanet has been remarkably consistent in its Bitcoin accumulation.
May 2024: Additional 23.35 BTC purchase
July 2024: Another 20.381 BTC acquired
August 2024: 21.88 BTC added to holdings
September 2024: Multiple purchases totalling over 100 BTC
December 2024: Reached 1,762 BTC (getting serious)
Q1 2025: Added 5,034 BTC in three months (absolutely sending it)
May 2025: Hit 6,796 BTC after a 1,241 BTC shopping spree
Their average cost basis? About $89,492 per Bitcoin. Not bad timing considering where we are now.
Metaplanet is now Japan's largest corporate Bitcoin holder, and one of the most significant globally amongst listed companies.
Bitcoin's price appreciation throughout 2024 meant that MetaPlanet's holdings increased substantially in value, providing the company with unrealised gains that dwarfed its traditional hospitality revenues.
Record operating profit: ¥592 million on ¥877 million revenue
Bitcoin Income Generation: ¥770 million (88% of total revenue) through option premium harvesting
Hotel Operations: Only ¥104 million (12% of revenue)
Bitcoin holdings: 6,796 BTC (up from 1,762 at end of 2024)
Unrealised Bitcoin loss: ¥7.4 billion in Q1, but reversed to ¥13.5 billion gain by May 12
What's Bitcoin Income Generation? Basically, they're selling cash-secured put options on Bitcoin, collecting premiums while positioning themselves to buy more BTC at lower prices if the options get exercised.
Their stock price? Up 3000% since they started this Bitcoin journey. Meanwhile, the traditional hotel stocks are probably still trying to recover from 2020.
