In a sign of growing corporate interest in Bitcoin, both Metaplanet and GameStop are making headlines for their potential moves into cryptocurrency. Metaplanet, a Japanese investment firm, has raised 4 billion yen ($26.1 million) to expand its Bitcoin holdings, while GameStop’s stock surged in after-hours trading amid speculation that the company is considering adding crypto to its balance sheet. While Metaplanet has confirmed its Bitcoin acquisition strategy, GameStop is still weighing its options, reflecting the broader trend of companies exploring digital assets as part of their financial strategies.
Metaplanet Raises $26.1 Million to Accelerate Bitcoin Accumulation Amidst Japan’s Economic Challenges
Japanese investment firm Metaplanet has successfully raised 4 billion Japanese yen ($26.1 million) to bolster its Bitcoin holdings, marking another step in its aggressive shift towards cryptocurrency. The company announced the capital infusion through a post on its X account on Feb. 12, confirming that the funds were secured via zero-interest, unsecured, and unguaranteed bonds.
The raise aligns with Metaplanet’s ambitious plan to acquire 10,000 BTC by Q4 2025 and eventually expand its holdings to 21,000 BTC by the end of 2026. At current market prices, these targets would require an investment of approximately $957 million and $2 billion, respectively. With 1,762 BTC held as of Jan. 28, the company appears poised for an aggressive buying spree in the coming months.
The company’s strategic shift towards Bitcoin is not without reason. In its official statement, Metaplanet cited Japan’s challenging economic environment, characterized by high debt levels, persistent yen depreciation, and prolonged real negative interest rates. The move mirrors a broader trend among corporations, sovereign wealth funds, and even state governments that see Bitcoin as a hedge against inflation and currency debasement.
The EVO Fund, an investment management firm, backed the latest bond issuance. Notably, these bonds do not require Metaplanet to pay interest, making the raise an efficient way to increase its Bitcoin treasury without incurring additional debt-related costs.
In a financial adjustment, Metaplanet also reduced the amount of yen allocated for Bitcoin purchases from 111.3 billion yen ($723 million) to 107.3 billion yen ($701 million). While the decrease may seem minor, it signals a strategic recalibration as the company evaluates the optimal approach to expanding its BTC holdings.
Metaplanet’s pivot has yielded impressive results. Over the past 12 months:
Its stock price has surged by 5,250%, attracting heightened investor interest.
Shareholders have increased by 500%, with 50,000 new investors joining its ranks.
The company’s market capitalization has skyrocketed by 11,800%, cementing its reputation as Japan’s answer to MicroStrategy.
The parallels to Michael Saylor’s Strategy (formerly MicroStrategy) are undeniable. The US-based company has become synonymous with corporate Bitcoin accumulation, and its BTC-focused strategy has rewarded shareholders handsomely. Similarly, Semler Scientific, a US medical technology company, has also seen its stock price surge following its Bitcoin purchases.
Metaplanet’s success may pave the way for more Japanese corporations to adopt Bitcoin as a treasury asset, particularly as inflationary pressures and currency devaluation remain pressing concerns.
Beyond corporate adoption, Bitcoin is increasingly finding its way into state and national investment strategies. At least 16 US states, including Texas, Kentucky, and Missouri, are exploring Bitcoin purchases to diversify their reserves. Meanwhile, the United States federal government is reportedly evaluating the potential creation of a digital asset reserve, which may include BTC.
On the international stage, Czechoslovakia’s central bank is considering adding Bitcoin to its foreign reserves, joining a growing list of nations eyeing cryptocurrency as a strategic asset.
A Global Trend Towards Bitcoin-Based Reserves
Metaplanet’s latest move aligns with a broader macroeconomic shift in which companies, states, and even central banks increasingly view Bitcoin as a digital gold alternative. The cryptocurrency’s finite supply (21 million BTC) and decentralized nature make it an attractive hedge against traditional financial risks.
Financial analysts suggest that Metaplanet’s bold Bitcoin strategy could serve as a case study for Japanese firms navigating a challenging economic landscape. Should its stock continue to rise, more corporations may follow suit, further cementing Bitcoin’s status as a legitimate reserve asset.
As Metaplanet continues its buying spree, all eyes will be on whether its BTC-focused strategy can sustain its meteoric stock performance—or whether Japan’s regulators will weigh in on the company’s unprecedented crypto adoption.
GameStop Stocks Soar Amid Speculation of Crypto Investments
In related news, GameStop’s stock surged in after-hours trading on Feb. 13, climbing 18% following reports that the company is considering investments in alternative asset classes, including cryptocurrencies like Bitcoin. The speculation was fueled by a CNBC report citing three sources familiar with the matter. However, the report also suggests that GameStop has not yet made a final decision, as one source emphasized that the company is still evaluating whether such an investment aligns with its business strategy.
GameStop’s stock price shot up to $31.30 in after-hours trading following the news but later settled at $28.36, still marking a 7% gain. The dramatic increase signals strong market interest in the possibility of a major retailer like GameStop adding crypto to its balance sheet.
Interestingly, a Solana-based meme coin called GameStop (GME)—which is unrelated to the company—also saw a 45% jump to $0.0027, before correcting to $0.0025, according to CoinGecko.
Speculation about GameStop’s potential crypto involvement gained traction after CEO Ryan Cohen posted a picture with MicroStrategy’s executive chairman Michael Saylor on Feb. 7. Given Saylor’s outspoken advocacy for Bitcoin, some investors interpreted the post as a hint that GameStop could follow in MicroStrategy’s footsteps by adding BTC to its treasury.
However, two sources informed CNBC that Saylor has no direct involvement with GameStop’s rumored Bitcoin acquisition plans. Despite this, the mere association with Saylor, whose firm holds over 190,000 BTC, has driven excitement among investors.
GameStop’s potential move into crypto would align with a growing trend of corporations adding Bitcoin to their treasuries as a hedge against inflation and currency depreciation.
Meanwhile, at least 16 US states are exploring Bitcoin investments as part of their treasury strategies, with discussions intensifying at both state and federal levels.
While GameStop has flirted with crypto in the past, regulatory uncertainty has hindered its long-term involvement in the sector.
In 2022, the company launched a crypto wallet for users, but it was shut down in November 2023 due to increasing regulatory challenges.
GameStop also entered the NFT space, launching an NFT marketplace, which was eventually discontinued in January 2024 over similar concerns.
The company’s past initiatives suggest an openness to blockchain and digital assets, but its history of regulatory pullbacks raises questions about how far it is willing to go this time.
The Legacy of the GameStop Meme Stock Phenomenon
GameStop remains the most iconic example of meme stock success, having skyrocketed over 1,000% in a month during the 2021 short squeeze, when retail traders pushed back against hedge funds shorting the stock.
The WallStreetBets-fueled movement demonstrated the power of retail investors in shaping market outcomes, a trend that has only grown stronger with the rise of crypto and decentralized finance (DeFi). If GameStop does indeed enter the Bitcoin market, it would symbolize another pivotal moment where traditional finance and digital assets converge.
For now, GameStop has not confirmed any Bitcoin purchases, and the company is reportedly still assessing the feasibility of such a move. However, the sharp rise in its stock price suggests that investors are highly receptive to the idea of a GameStop-Bitcoin alliance.
Should the company proceed, it could mark a significant shift for GameStop from a traditional retailer to a financial innovator, potentially following the path of MicroStrategy, which has seen its stock skyrocket in tandem with its Bitcoin accumulation.
Whether GameStop ultimately embraces Bitcoin or not, its influence on meme stock culture, crypto speculation, and retail investor enthusiasm remains as strong as ever.
This article was originally Posted on Coinpaper.com
