Japan-based investment firm Metaplanet has announced plans to establish a U.S. subsidiary in Miami, Florida, as part of its global expansion strategy centered around Bitcoin
$ 95,212. This decision, made by the company’s board, aims to accelerate Metaplanet’s existing Bitcoin treasury strategy. As of April 2024, the company has reached 5,000 BTC, achieving 50% of its target. The new structure is expected to enhance corporate liquidity access and streamline Bitcoin acquisition processes.
Metaplanet Starts a New Chapter in the U.S.
This month, Metaplanet is set to establish its new subsidiary, named “Metaplanet Treasury Corp,” in Florida. The choice of Florida is attributed to the state’s advantages in Bitcoin entrepreneurship, financial innovation, and business-friendly policies. Miami’s emergence as a global hub for cryptocurrency companies in recent years further reinforces this strategic choice.
The new subsidiary will operate under the leadership of CEO Simon Gerovich and Bitcoin strategy leader Dylan LeClair. According to Metaplanet, this setup will enable continuous operational capability across global time zones and enhance agility in treasury management. Additionally, the new entity, alongside Metaplanet’s existing British Virgin Islands-based structure, is expected to boost international operational flexibility.
The initial capital of the new company is set at $10 million. However, the primary goal is to secure an additional $250 million from investors to aggressively expand the Bitcoin treasury strategy. Gerovich believes this approach not only strengthens Metaplanet’s position in the U.S. market but also represents a critical step towards becoming a global Bitcoin treasury company.
Corporate Bitcoin Acquisitions Continue
Metaplanet’s current Bitcoin reserve of 5,000 BTC positions the firm among the largest corporate Bitcoin investors, alongside giants like Strategy (formerly MicroStrategy), Tesla, Block, and MARA. Following the target of 10,000 BTC for 2025, Metaplanet plans to increase this amount to 21,000 BTC by the end of 2026.
Recently, the increase in corporate Bitcoin acquisitions has been notable. For instance, Nasdaq-listed health technology company Semler Scientific recently purchased an additional 165 BTC, raising its total reserves to 3,467 BTC. The company has also applied to raise $500 million in securities for various corporate purposes, including Bitcoin acquisition.
Earlier this week, Strategy, a pioneer in corporate Bitcoin accumulation, announced the acquisition of 15,355 BTC. With this significant purchase, the company’s total holdings reached 553,555 BTC, representing 2.6% of Bitcoin’s total supply. The strong corporate interest in Bitcoin appears to play a crucial role in shaping the future position of the largest cryptocurrency.