In a significant move for its cryptocurrency strategy, Tokyo-based Metaplanet has announced the establishment of a wholly owned subsidiary in Florida called Metaplanet Treasury Corp. This strategic decision is part of Metaplanet’s commitment to its bitcoin (BTC)-focused treasury strategy, which has positioned the company as the largest public BTC holder in Asia.
The new subsidiary is set to be capitalized with up to $250 million, serving as a dedicated vehicle for treasury operations within the United States. This expansion not only enhances Metaplanet’s operational capabilities but also aligns with the company’s aim to facilitate round-the-clock operations across global time zones. By establishing a presence in the U.S., Metaplanet is poised to broaden its access to institutional capital, a crucial element for its growth and sustainability in the ever-evolving cryptocurrency market.
Florida has been chosen as the location for this new venture due to its burgeoning reputation as a hub for Bitcoin innovation and corporate adoption. “The state is rapidly emerging as a global hub where Bitcoin innovation, corporate adoption, and financial liberalization are accelerating,” noted Metaplanet CEO Simon Gerovich in a recent X post, translated from its original Japanese.
This announcement follows a period of aggressive bitcoin purchases by Metaplanet, including a notable acquisition of 145 BTC last week, bringing the company’s total holdings to an impressive 5,000 bitcoin. Such strategic investments mirror the approach of U.S.-based business intelligence firm MicroStrategy (MSTR), which has garnered attention for its significant BTC accumulation that has become integral to its corporate identity.
As Metaplanet continues to expand its footprint in the U.S. market, the cryptocurrency community is keenly observing this development, which may signal an ongoing trend of increased corporate involvement in Bitcoin and a growing acceptance of digital assets in traditional finance.
