Metaplanet Transforms into Asia's Largest Corporate Bitcoin Treasury Holder
Metaplanet, dubbed the 'Asian MicroStrategy,' has undergone significant transformations since its inception. Initially founded as Red Planet Japan in 2023, the company operated a chain of budget hotels before pivoting to Web3 consulting and eventually building Asia's largest corporate bitcoin treasury.
The firm's CEO, Simon Gerovich, a former derivatives trader at Goldman Sachs, has been instrumental in steering Metaplanet towards its current direction. In April 2024, the company announced that it would use bitcoin as its primary reserve asset, investing around ¥1 billion in the process.
This decision was driven by Japan's macroeconomic backdrop, including rapid yen depreciation and rising government debt. Bitcoin was seen as a long-term hedge against devaluation of the national currency.
Metaplanet still lists The Bitcoin Hotel among its projects, but no new launch date has been disclosed. In January 2025, the company announced the venue would feature a world-first bitcoin gallery and art museum.