Simon Gerovich, CEO of Metaplanet Japan, shared at the Bitcoin Enterprise Application Forum on May 6 how he went from a budget hotel hit by Covid-19 to becoming one of the best performing listed companies in the world. He said that it only depends on one thing, which is to incorporate Bitcoin into the core assets of the company and vigorously reorganize the financial structure.
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ToggleThe epidemic has hit the hospitality industry hard. Metaplanet's revenue has dropped by 100% and it can't hold on.
Gerovich used to work as a trader at Goldman Sachs, but later quit his job to start his own business, operating more than 30 affordable hotels in Southeast Asia and Japan.
The company originally obtained funding through the acquisition of a Japanese listed company, but was affected by the epidemic in 2020:
- Cash flow to zero
- No government subsidies
- Banks take a tough stance
"I never thought of a situation where revenue would drop by 100%." Simon admitted that at that moment he deeply understood the fragility of cash flow.
Learn the key strategy from Saylor, you need an asset that won't break
Gerovich listened to Saylor's podcast during the pandemic and realized two things:
What if revenue drops to zero in an instant?
If the currency is diluted by crazy money printing, what can we believe in?
" Bitcoin is an indestructible asset with no counterparty risk, no depreciation risk, and no geopolitical risk." Gerovich found the answer.
In 2024, the board of directors unanimously passed the "Bitcoin Standard", making a U-turn
In April 2024, the Metaplanet board of directors officially included Bitcoin as the company's core assets and accounting units.
Thirty days later, the Bitcoin Manifesto was publicly released, announcing that all future financing, investment and asset allocation decisions would be based on BTC.
Three core indicators are also established:
- Bitcoin Yield
- Accumulation speed (BTC Gain)
- BTC Dollar Gain .
Bitcoin makes Metaplanet's market value surge 100 times, becoming the global performance king in 2024
Metaplanet also held more than 5,000 bitcoins within a year, and the company's market value exceeded US$1.4 billion, making it the world's best performing listed company in 2024.
The number of shareholders also increased from 10,000 to nearly 64,000, making it the most popular "Bitcoin entry stock" among Japanese investors.
"Buying Bitcoin directly would incur a capital gains tax of up to 55%, but buying Metaplanet stock would allow you to hold it tax-free in your retirement account," said Gerovich.
From building a restaurant to recovering the investment in 10 years, to BTC strategy to make profit in 24 hours
In the past, it took at least 5 to 10 years to build a hotel from site selection to stable revenue, and it was also subject to interest rates, epidemics and fluctuations in the tourism market.
Now that the Bitcoin standard has been adopted, it is possible to immediately raise funds, purchase coins, and announce asset restructuring, completing the financial efficiency that would have taken ten years in one day .
"Volatility used to be a risk, but now it's become fuel. We turn volatility into a fundraising tool and then convert it into a Bitcoin asset," said Gerovich.
2025 Fundraising Results Are Outstanding! The $500 million raised was converted into Bitcoin
Through three capital increase plans, including the largest "Mobile Strike Price Warrant" plan in Japan's history, it successfully raised US$500 million and purchased all of it for BTC.
Become the company with the highest equity fundraising amount among all 4,000 listed companies in Japan in 2025.
Each round of capital increase has been effective, and the value of BTC per share has increased 13 times
From Q2 2024 to now, the company's BTC per-share value has increased by more than 13 times.
In the first quarter of 2025, Bitcoin's yield reached 95%, far exceeding the expected quarterly increase of 35%.
Every transaction within the company is done with just one question: “Will this make each bitcoin more valuable?” Gerovich said with a laugh.
Traditional financial reports cannot evaluate us because you still use legal currency thinking
Gerovich pointed out that the traditional market feels that Metaplanet's market value is higher than Bitcoin's book value, so it feels overvalued, but they ignore the speed of accumulation.
Over the past year, the average monthly BTC yield was 28%, far higher than the annual growth rate of most companies .
Building a Bitcoin education platform and physical base in Japan
Metaplanet has also obtained authorization from Bitcoin Magazine Japan, hoping to educate Japanese people to "not only hold Bitcoin, but also understand Bitcoin."
The "Bitcoin Hotel" that will open in 2026 will become an educational base and community base for promoting Bitcoin.
🔚From a shareholders' meeting with 20 people to a sold-out event with thousands of people: this is the Bitcoin effect!
Simon finally recalled that there were only 20 people attending the shareholders' meeting a year ago; but the latest shareholders' meeting was packed with more than 1,500 people. He said:
“It’s a collective hope, a desire for change. That’s the Bitcoin effect. And it’s just beginning.”
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