The Japanese Bitcoin investment firm, Metaplanet, has emerged as the top stock purchased through Japan’s Nippon Individual Savings Account (NISA) program, with investors leveraging the scheme to purchase Bitcoin while benefiting with zero capital gain tax.
As Bitcoin’s popularity is surging rapidly in the country, the surge in Metaplanet’s popularity comes on the heels of a bold $5.4 billion equity raise announced on June 6, 2025, aimed at acquiring 210,000 BTC by 2027.
Simon Gerovich, CEO of Metaplanet, described the strategy as “Bitcoin + zero tax + leverage = Japan’s ultimate Bitcoin proxy,” a formula resonating with investors eager to bypass Japan’s high tax rates—up to 55% on direct crypto holdings.
In his latest X post, Gerovich highlighted how the tax-free investment scheme is driving Japanese investors to gain Bitcoin exposure without the burden of capital gains tax, positioning Metaplanet as a key player in the nation’s evolving crypto landscape.
The NISA program, expanded in January 2024 to offer an 18 million yen tax-exempt limit per individual, has redirected a significant portion of Japan’s household savings—exceeding 2,115 trillion yen as of June 2024—toward riskier assets like Metaplanet’s stock.
In an earlier post, Simon also highlighted the company’s deals worth billions. “Our last two deals total ¥887 billion ($6.2 billion), exceeding the combined total of all other top 30 equity issuances in Japan over the past year by nearly 8 times,” he noted.
While the NISA-driven boom aligns with Prime Minister Fumio Kishida’s “new capitalism” vision to boost household wealth, experts caution about long-term volatility risks.
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