Metaplanet’s Dramatic Rise in Japan’s Stock Market
On May 23, 2025, Metaplanet became Japan’s most active stock. Despite being the top loser on the same day,it remains the largest stock in Japan.The company is on the verge of a massive short squeeze, similar to the GameStop 2021 event. How did this small hotel operator transform into Japan’s fastest-growing stock and a Bitcoin accumulator?
Metaplanet, initially founded in 1999, operated in various sectors. In 2010, CEO Simon Gerovich launched a hotel business in Thailand, the Philippines, Indonesia, and Japan. However, the COVID-19 pandemic hit the hotel industry hard. Around this time,Gerovich discovered Michael Saylor’s Bitcoin strategy.
The turning point came in 2024. Metaplanet’s management pivoted, recognizing Bitcoin as a scarce asset. They sold all but one hotel and began aggressively accumulating Bitcoin. The company aims to make its stock more profitable than Bitcoin and consults others on bitcoin and Web3.
Metaplanet plans to open a Bitcoin Hotel in Tokyo in 2026, blending its hotel origins with its current strategy. As of May 23, 2025, it holds 7,800 BTC, valued at around $800 million, ranking tenth globally.The company uses BTC yield as its main KPI, emphasizing Bitcoin’s meaning over fiat money.
Metaplanet’s stock price grew from 40 JPY to 1,000 JPY in a year, gaining over 420%. Though, it faces short-seller pressure. CEO Simon Gerovich claims it’s the most shorted stock in Japan.High volatility and trading volumes suggest a possible short squeeze, reminiscent of the 2021 GameStop case.
Metaplanet’s future remains uncertain. If hedge funds are wrong, they’ll face meaningful losses. However, if the Bitcoin strategy fails, the company may suffer.
