Japanese Investment Company Metaplanet Announces Expansion Plans into the US Market
On Thursday, Japanese investment company Metaplanet announced its plans to expand into the US market and today revealed the issuance of ordinary bonds valued at 3.6 billion yen to acquire more Bitcoin.
According to the announcement, the Metaplanet board has resolved to establish a wholly-owned subsidiary, “Metaplanet Treasury Corp.,” in Florida, USA, as part of its ongoing global expansion strategy and Bitcoin financial operations. The initial capital investment will be 10 million USD, with a target capital amount of 250 million USD.
The newly established US subsidiary will drive several key initiatives: enhancing the capability to access deep institutional liquidity pools and improving Bitcoin acquisition efficiency, increasing the flexibility and execution speed of financial operations in the global market, and supporting Metaplanet’s strategic layout in the US market.
Additionally, Metaplanet announced earlier today the issuance of its 12th series of zero-interest ordinary bonds, totaling 3.6 billion yen (approximately 24.7 million USD), with the funds raised to be used for purchasing Bitcoin. This issuance will be conducted through Metaplanet’s EVO FUND, and investors can redeem the full face value before October 31, 2025.
Originally, Metaplanet was a company focused on developing Web3 and metaverse technologies while operating in the hotel business. In April 2024, it transitioned into a Bitcoin financial enterprise, adopting Bitcoin as its core financial reserve asset to hedge against Japan’s debt burden and the resulting volatility of the yen.
As of April 24, Metaplanet held a total of 5,000 Bitcoins (valued at approximately 485 million USD based on the current price of around 97,000 USD). According to Metaplanet CEO Simon Gerovich, the cost of acquiring these Bitcoins was about 428.1 million USD, with an average purchase price of approximately 85,621 USD.
Gerovich stated on the social media platform X that the recent trading volume of Metaplanet’s stock, MTPLF, listed on the US OTC market, has surged significantly, setting a historical high for the fourth consecutive day. He also wrote in another tweet: