Metaplanet Expands in US:- The race to acquire Bitcoin as treasury asset is intensifying. In the past week, two new Bitcoin strategic acquisition companies, Twenty One Capital, and Janover (though for Solana) have already emerged on the landscape.
In this scenario, the old and dominant players of the industry are trying to ramp up their number of BTC acquisitions.
In a latest move, Metaplanet Inc. has also striked a major move on Thursday. The Tokyo-listed Bitcoin Treasury company, Metaplanet, is now expanding into the US with a new wholly-owned subsidiary.
Dubbed as “Metaplanet Treasury Corp.”, the new subsidiary is set to be established in Florida, US.
Metaplanet New Subsidiary Taps into BTC Race
Before today’s new Metaplanet subsidiary update, it has only one corporate presence outside the firm’s headquarters in Tokyo, Japan.
Last year in July 2024, it established a wholly-owned subsidiary named Metaplanet Capital Limited in the British Virgin Islands (BVI).
The firm has been a Tokyo-listed company since 1999 and began its Bitcoin acquistion plans last year – with just 97.8 BTC.
With the new US subsidiary, it aims to embark on global expansion. The new Metaplanet Treasury Corp. will support the parent Metaplanet’s Bitcoin Acquisition strategies in US.
The BTC treasury company will now be able to gain access to more efficient Bitcoin acquisition channels. This will lead to fast execution speed with the presence in the 24/7 global market of United States.
The new US-registered entity is expected to raise up to $250 million in capital. This will be used for accelerating its Bitcoin Acquisition strategy particularly in US market.
Overall, this expansion in US is expected to bring enhanced liquidity and treasury flexibility for the company.
At the moment, the firm has 5,000 BTC in Total Bitcoin Holdings. It made its latest purchase on April 24 adding 145 $BTC to its April 21 stack of 4,856 BTC.
This comes as the Bitcoin price has crossed the $95 mark and is currently eyeing the $96,000 mark.
Why Metaplanet Chose to Open its New Subsidiary in Florida
The firm’s decision to choose Florida as the site of its new susbdiary is also significant. The state is gaining prominence as a global crypto hub with new crypto bills and initiatives.
The Trump administration and new SEC Chair Paul Altkins are also continuing to augur well for the pro-crypto landscape in US.
Metaplanet CEO Simon Gerovich said in a X post, “The reason for choosing Florida is clear: the state is rapidly emerging as a global hub for Bitcoin innovation, corporate adoption and financial liberalization.”
Last month on April 11, the unanimously voted Bill – Florida House Insurance and Banking Committee – passed to encourage public crypto adoption. The bill empowered the state to hold Bitcoin as a reserve asset and allocate up to 10% of various state funds into Bitcoin.
Florida CFO Jimmy Patronis has also indicated that the state already holds approximately $800 million in crypto-related assets.
It is also exploring adding Bitcoin to public pension portfolios as a “digital gold” hedge against inflation.
What’s Next for the BTC Acquisition Race
Metaplanet’s decision to expand into US comes as the dominant players continue to take centre stage.
Michael Saylor’s MicroStrategy (now rebranded as Strategy) made its latest purchase on April 28. The company purchased 15,355 BTC for approximately $1.42 billion, bringing its total holdings to 553,555 BTC.
The TradeFi giant BlackRock is also ramping up its Bitcoin acquistion strategy. BlackRock’s most recent Bitcoin buy occurred on May 1 – today. Its iShares Bitcoin Trust (IBIT) have acquired approximately $267 million worth of BTC.
Infact, Strategy and BlackRock are locked into a fierce competition. Both are expected to cross 1 million BTC mark soon with the debate going on about who will cross it soon.
Thus, the recent new subsidiary decision of Metaplanet comes as another bullish chapter in the ongoing BTC arms race.
The post Metaplanet Establishes New Subsidiary in US – What the BTC Firm is Planning appeared first on CoinGape.
