Bitcoin Treasury Firm Metaplanet Looking Like 'Classic Bubble'

Bitcoin (BTC) as a treasury asset gained traction with Michael Saylor’s business intelligence firm, Strategy. The huge unrealized gains possibly sparked the interest of Metaplanet, the Japanese firm often dubbed “Japan’s MicroStrategy” to follow the same playbook.

Metaplanet’s stock price surge signals bubble-like pattern

Metaplanet, which began its Bitcoin accumulation in April 2024, now ranks among the top 10 BTC holders globally. Despite this achievement, CryptoQuant data suggests that Metaplanet’s staggering climb in the crypto space might be near the point of collapse.

An analysis of Metaplanet’s stock price shows a 4,500% surge from the early days, when it invested in Bitcoin. However, this peaked in mid-2025 and is now on a declining path. It fits into the “classic bubble” parabolic pattern of going from bubble to burst within a short time frame.

The stock chart signals that the price of the asset rose too quickly and has become unsustainable. If the stock price continues on this trajectory, the value might crash soon or witness a massive correction. Such a development could trigger increased selling pressure for Metaplanet stockholders.

The firm, which currently owns 20,136 BTC, might need to make serious decisions on whether to slow down on its Bitcoin acquisition or stick to its vision of hitting 100,000 BTC by the end of 2026.

Metaplanet CEO defends Bitcoin-only strategy

Meanwhile, Metaplanet, in the last week of August 2025, made history by becoming the first Bitcoin treasury firm to be included in the FTSE Japan Index.

The inclusion of Metaplanet in a globally recognized stock market is significant. Notably, it can move capital flows from the traditional market to Bitcoin.

Recently, Simon Gerovich, Metaplanet CEO, stated that the firm is going to focus exclusively on Bitcoin, just like Strategy. According to Gerovich, the aim is to acquire enough Bitcoin so as to hit “escape velocity,” where other layers in the sector cannot catch up with it.