by Coinstrooper Crypto Articles
Quick Take
  • Metaplanet (3350), the largest bitcoin (BTC) treasury company in Japan, said it established two subsidiaries — one in Japan and one in the U.S.
  • — and bought the bitcoin.jp domain name as it strengthens its commitment to the largest cryptocurrency.
  • Both the wholly owned subsidiaries are led in part by Metaplanet CEO Simon Gerovich.
  • Earlier this month, the firm brought its bitcoin holdings to over 20,000 BTC.

What Happened

Metaplanet noted it launched a bitcoin income generation business in the last quarter of 2024 and aims to further scale these operations through the new subsidiary. Both the wholly owned subsidiaries are led in part by Metaplanet CEO Simon Gerovich.

The subsidiaries are being established shortly after the company announced plans to raise a net 204.1 billion yen ($1.4 billion) in an international share sale to bolster its BTC holdings.

Market Context

Metaplanet (3350), the largest bitcoin (BTC) treasury company in Japan, said it established two subsidiaries — one in Japan and one in the U.S. — and bought the bitcoin.jp domain name as it strengthens its commitment to the largest cryptocurrency.

Bitcoin Japan Inc., will be based in Tokyo and manage a suite of bitcoin-linked media, conferences and online platforms, including the internet domain and Bitcoin Magazine Japan.

Why It Matters

The U.S. unit, Metaplanet Income Corp., will be based in Miami and focus on generating income from bitcoin-related financial products, including derivatives, the company said in a post on X.

Earlier this month, the firm brought its bitcoin holdings to over 20,000 BTC. It’s currently the world’s sixth-largest bitcoin treasury company, with 20,136 BTC in its balance sheet, according to BitcoinTreasuries data. The leading firm, Strategy (MSTR), has 638,985 BTC.

Details

Metaplanet stock dropped 1.16% on Wednesday.