Metaplanet CEO Revisits Strategy’s Bitcoin Playbook as Holdings Top 840,000 BTC

Strategy, formerly MicroStrategy, began its Bitcoin treasury strategy in August 2020, when the roughly $1 billion software company put $250 million of cash into the cryptocurrency. The move, initially dismissed as a publicity stunt, became a template for using equity, debt and preferred stock to expand corporate Bitcoin exposure, while also drawing scrutiny over concentration, funding costs and the volatility embedded in the model.

Metaplanet Chief Executive Simon Gerovich said on July 27, 2026, that Strategy’s underlying logic had not changed through repeated swings in investor opinion. Strategy held 843,775 BTC worth more than $50 billion. Metaplanet, meanwhile, held 43,000 BTC as of July 10 and completed its 2.1 billion yen ($13 million) acquisition of Siiibo Securities on July 13, gaining a regulated channel to develop and distribute Bitcoin-linked yield products under Project Nova.