From Tokyo Hotel to Bitcoin Treasury: Why I Bought BTC When Everything Else Failed

The Hotel That Became a Bitcoin Vault

When our hotels shuttered during the pandemic, our cash flow vanished. Our audit warned: 12 months left before insolvency. I was in Kyoto then—listening to Michael Saylor’s podcast while staring at empty lobbies. He spoke of scarcity as strategy. Not speculation. I realized: if money can be printed endlessly, holding it is reckless.

Digital Gold Isn’t a Trend—It’s a Fiduciary Duty

Bitcoin isn’t currency for payments; it’s the only asset with fixed supply and no central authority. In Japan, where inflation has returned after decades of deflation, people still trust yen—even as its purchasing power erodes. But gold? Too expensive to move. Bitcoin? Portable, verifiable, immutable.

MNAV: The Metric Wall Street Ignores

We don’t track EBIT or net income—we track BTC per share growth. This quarter: +190%. That means each share now represents nearly 3x more BTC than last year—not because we traded it, but because we bought more. Traditional analysts use P/E ratios; they miss the point entirely.

Japan’s Quiet Revolution

Most investors here buy BTC via exchanges—paying 55% tax on gains. We created Metaplanet as an alternative: equity issuance to fund BTC purchases without triggering capital gains events for holders. Our shareholders own the asset directly—through stock ownership—and we publish every wallet address publicly.

Why We’ll Never Sell

If you sell BTC to chase short-term profit? You’re not a treasury company—you’re a hedge fund playing games with volatility that destroys long-term trust.

The Next Stage: Digital Sovereignty

In five years, central banks will hold BTC as reserve assets—not just for liquidity but as backbone capital. When that happens, Japan won’t play catch-up—it will lead.

We started with empty rooms and silent ledgers. Now we have thousands of Bitcoin—and zero regret.