Metaplanet Inc., a Japanese hotel company, has seen its shares surge over 4,800% in the past year after shifting to a Bitcoin-first strategy. The company's success is attributed to the pro-crypto policies of U.S. President Donald Trump, which have fueled demand for Bitcoin in Japan. Metaplanet CEO Simon Gerovich aims to invest heavily in Bitcoin and rebrand its remaining hotel as 'The Bitcoin Hotel'.
Bitcoin logos are displayed at the Inside Bitcoins conference and trade show on April 7, 2014, in New York.
Metaplanet is one of a number of outfits around the world that aim to emulate the success of Michael Saylor’s Strategy, formerly known as MicroStrategy Inc. The Tysons Corner, Virginia-based company has morphed into a leveraged Bitcoin proxy and behemoth after accumulating more than $45 billion of the token.
“Metaplanet has such high exposure to the volatile retail base,” said Rhiannon Ewart-White, Japan equity analyst and managing director of UK-based Storm Research. “They need to make sure shareholders understand exactly what their strategy is.” The company isn’t Japan’s only MicroStrategy-copycat. Software developer Remixpoint Inc., for example, announced a plan to buy ¥1.2 billion in Bitcoin last September, and has seen its stock grow over 300 per cent since.
“I believe Bitcoin will be an indispensable asset in the future,” he said. Hagiya was further enticed to invest by Metaplanet’s promise of free Bitcoin merchandise at its shareholder meetings.
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