Metaplanet to Establish Branch in the US, Plans to Raise $250 Million for Bitcoin Strategy
Metaplanet announces the establishment of a US subsidiary to expand its Bitcoin accumulation strategy, aiming to raise up to $250 million and attract US institutional investors.
Metaplanet - a Japanese company focused on Bitcoin accumulation - announces the establishment of a subsidiary in the United States.
In an Xposton May 1st, the company announced that it will establish a fully owned subsidiary in Florida. Additionally, the new subsidiary is expected to raise up to $250 million to support its Bitcoin accumulation strategy and attract US institutional investors.
Metaplanet stated in anotherstatementthat the new subsidiary's headquarters will be located in Miami. The company also noted that the environment in Florida is particularly favorable:
"Florida is a rapidly emerging center for Bitcoin companies and financial innovation, known for its business-friendly policies and rising global capital and technology hub status."
The company explained that they chose Florida due to its supportive Bitcoin environment, which is reportedly conducive to Bitcoin corporate adoption and financial liberalization. The new subsidiary is also expected to expand the company's business to new time zones.
Metaplanet's comments follow Florida becoming one of the most Bitcoin-friendly states in the US. In April, the Florida House Insurance and Banking Committee approved a bill allowing the state treasury to invest in Bitcoin - a bill initially proposed in early February.
The cryptocurrency industry has deep roots in Florida and is closely tied to its political landscape. Two Republican candidates received a total of $1.5 million from the crypto-supported political action committee (PAC) Fairshake, who will enter the US House of Representatives after winning a special election in Florida.
An analysis in mid-February also showed that the Florida Retirement System State Administrative Board Fund held 160,470 shares of Strategy stock, valued at $46 million at the time. Strategy (formerly MicroStrategy) is a sister company to Metaplanet: a company focused on Bitcoin accumulation and its largest corporate shareholder.
Previously, Florida's Chief Financial Officer Jimmy Patronis suggested that institutions managing the state's retirement fund consider investing in Bitcoin. He expressed his thoughts in a letter sent to Chris Spencer, Executive Director of the Florida Administrative Board, in late October 2024.
Metaplanet's Continuous Development
According to Metaplanet'sofficial website, at the time of writing, the company holds exactly 5,000 Bitcoins, valued at $474.7 million. While this is far from Strategy's holdings (over 2% of future Bitcoin total supply), it represents a 184% increase from the 1,762 Bitcoins held on the first day of 2025.
Metaplanet's Bitcoin holdings chart. Source:BitcoinTreasuries.NET
In early April, Metaplanet announced the acquisition of 696 Bitcoins for 10.2 billion yen ($67 million). Later that month, the company acquired 330 Bitcoins for $28.2 million, at an average price of $85,605 per Bitcoin, bringing its total holdings to 4,855. Towards the end of the month, the company further acquired 145 Bitcoins for 1.9 billion yen (approximately $13.4 million), bringing its total holdings to 5,000 Bitcoins.
