Metaplanet Inc. is set to establish a wholly owned subsidiary in Florida and aims to raise $250 million to further fuel its Bitcoin financial strategy.
The Tokyo-listed investment company, which exceeded the 5,000 BTC threshold last week, will operate a new entity as Metaplanet Treasury, expanding access to US institutional investors and strengthening 24-hour operation in time zones.
“The reason for choosing Florida is clear. The state is rapidly emerging as a global hub for Bitcoin innovation, corporate recruitment and financial liberalization,” reads a roughly translated tweet from Metaplanet CEO Simon Gerovich.
“With planned capital of up to $250 million, the move will serve as a key step in accelerating Bitcoin’s financial strategy and expanding access to institutional liquidity in one of the world’s leading capital markets,” he wrote.
Metaplanet believes the move will “enhance 24-hour operational capabilities” and solidify its position in the US market.
Subsidiary records have not yet appeared in Florida’s state operations. registry. Jerovic didn’t respond immediately. Decrypt’s Request a comment.
The move reflects the company of Michael Saylor, the founder of the strategy. Bitcoin adoption Metaplanet is a PlayBook that I used as inspiration to position myself as the “Asian answer” to industry leaders.
Creating a US subsidiary follows Metaplanet Eric Trump’s appointment to the Strategic Advisory Committee. The company does that Expand Bitcoin Holding 470% reach a target of 10,000 BTC per year.
Accumulation strategy
Japanese companies launched their accumulation strategies in April last year with just 97.8 BTC. It’s growing consistently That hidden place. This month alone, the company acquired over 1,650 BTC, worth around $156 million.
This is funded by Metaplanet’s “Asian largest” capital as a $745 million salary increase and is comprised around a zero discount Mobile strike warrant.
Similar to stock derivative options, strike warrants offer rights to investors, but are not obligated to purchase shares of the company at a time-varying strike price.
Metaplanet uses a metric called “BTC Alde” to track Bitcoin’s accumulation efficiency. This compares your Bitcoin holdings with unpaid stocks.
The measure rose dramatically from 42% to 310% by the end of last year, then reached 95.6% in the first quarter of this year, indicating that the company was acquiring Bitcoin at a pace beyond its share issue.
Bitcoin Treasuries data currently shows metaplanet on hold There are 5,000 BTC in books worth around $473 million, ranking 11th among the Bitcoin-holding entities.
edit Sebastian Sinclair
