With a dramatic shift to Bitcoin, a former hotel developer has transformed the investment landscape of Japan, causing a stir in Asia’s financial markets. Metaplanet Inc., which was previously recognized for its modest portfolio of hospitality properties, has undergone a remarkable transformation into Japan’s preeminent Bitcoin investment vehicle, providing shareholders with a 3,600% return over the past year.

The company’s market value has reached unprecedented heights as a result of the influx of retail investors attracted by the transformation.

How A Pandemic Failure Sparked A Crypto Renaissance

When the pandemic necessitated the closure of the majority of Metaplanet’s hotels, the gusts of change began to blow through its corridors. Simon Gerovich, the chief executive officer, recognized an opportunity in the crisis, leveraging his experience in trading at Goldman Sachs.

Top performing Japanese stocks in the last year. Source: TradingView

Was it his vision? To establish Japan’s response to the Bitcoin behemoths of the United States. In its treasury, the organization currently maintains 1,762 Bitcoin, which is valued at approximately $171 million.

However, Gerovich’s objectives extend far beyond these figures. The objective is ambitious: 21,000 Bitcoin by the conclusion of 2026.

🚀 Metaplanet up 3,600% in 12 months, Japan’s fastest-rising stock! After pivoting to Bitcoin, the former hotel developer now holds 1,762 BTC, aiming for 21,000 by 2026. Inspired by MicroStrategy’s BTC strategy, Metaplanet is betting on Bitcoin’s long-term growth! 📈 #Bitcoin… pic.twitter.com/Q1Dpc9Q6VY

— Collin Brown (@CollinBrownXRP) February 10, 2025

Retail Investors Fuel The Frenzy

In 2024 alone, the company’s shareholder base has expanded by 500%, reaching nearly 50,000 investors. Despite the fact that institutional heavyweight Capital Group has taken a position, it is the everyday Japanese investors who are actually fueling this remarkable growth story.

For many first-time crypto investors, the chance to get exposure to Bitcoin through regular stock markets is very appealing. The introduction of Japan’s revamped Nippon Individual Savings Account program, offering tax-free stock investments, has added fuel to this fire.

BTCUSD trading at $97,607 on the daily chart: TradingView.com

From Hotel Rooms To Blockchain Dreams

Metaplanet is reimagining its final remaining property in a creative variation that connects its past and future. The “Bitcoin Hotel”, a hub for crypto enthusiasts and investors, will soon rebrand the Royal Oak hotel in Tokyo’s Gotanda District.

By fusing traditional hospitality with state-of-the-art finance, this creative idea aims to create a physical hub for Japan’s growing cryptocurrency industry.

Promises And Pitfalls

As part of its aggressive expansion plan, Metaplanet plans to issue 21 million new shares in order to raise $750 million in equity. This would mark Asia’s largest equity capital raise for Bitcoin acquisition.

Meanwhile, on the horizon, dark clouds loom. Six years of losses have muddled the company’s financials, but analysts expect a return to profitability in the upcoming quarter.

Featured image from Gemini Imagen, chart from TradingView

A crypto analyst, Trader Tardigrade, has shared a bullish outlook for Dogecoin (DOGE), predicting a potential price surge to $3.69. The forecast was based on an ascending channel pattern that has been forming on Dogecoin’s monthly price chart since 2014.

Dogecoin Price Poised for a Rally, Analyst Suggests

According to the chart analysis shared on X (formerly Twitter), Dogecoin’s price has been following an ascending channel pattern for over a decade. This formation suggests the meme coin is on track to reach new highs. Trader Tardigrade pointed out that DOGE has remained within this channel and could be headed toward the upper boundary, aligning with a price level of $3.69.

More so, the analyst’s projection marks a substantial increase from Dogecoin’s all-time high of $0.74 recorded in May 2021. If the forecast materializes, it would represent a price surge of over 14 times from its current trading value of approximately $0.25. 

Despite skepticism from some traders, revisiting the previous high is seen as a more realistic target. However, historical price movement suggests that DOGE still has the potential for further gains.

Most recently, the analyst highlighted that Dogecoin price had entered the “accumulation zone.” This phase typically represents a period where investors accumulate the asset before a potential breakout. Historical price movements suggest that DOGE has experienced major surges following similar accumulation phases, reinforcing the possibility of a future rally.

Elon Musk’s D.O.G.E. Initiative Increases Visibility

Dogecoin continues to gain attention due to its association with Tesla CEO Elon Musk. Recently, Musk introduced a new non-governmental initiative, the Department of Government Efficiency (D.O.G.E.), to control government spending. The name and branding of this initiative directly reference the top meme coin, strengthening its visibility in the market.

The official website for D.O.G.E. features the Dogecoin logo, reinforcing speculation that Musk remains supportive of the asset. Over the years, Musk’s endorsement has contributed to major price movements in DOGE. 

According to a recent report, DOGE price could hit a 900% surge if historical trends repeat, as suggested by top analyst Ali Martinez. If Elon Musk’s DOGE-related advancements continue to gain traction and a potential DOGE ETF materializes, the meme coin could rally.

Institutional Demand for Dogecoin ETFs

Beyond community interest and Musk’s influence, institutional investment could play a crucial role in Dogecoin price movement. Several asset management firms, including REX Advisers, Osprey Funds, Bitwise, and Grayscale, have applied for Dogecoin-based exchange-traded funds (ETFs).

These investment products aim to provide institutional exposure to Dogecoin, potentially increasing demand.

According to analysts, if approved, the first DOGE ETF could launch as early as April 2025. The introduction of such financial products could attract institutional capital, increasing liquidity and reducing volatility in the Dogecoin market. ETF approvals have previously fueled price surges in other cryptos, and a similar outcome could be expected for DOGE.

Currently, Dogecoin is trading around $0.25, significantly below its historical peak. Analysts believe this price range represents an opportunity zone where accumulation could occur before the next major rally. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.