Japanese investment company Metaplanet announced its plans for expansion into the US market on Thursday and today announced the issuance of ordinary bonds worth 3.6 billion yen to purchase 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 is $10 million, with a target capital amount of $250 million.
The newly established American subsidiary will drive several key initiatives: enhancing the ability to acquire 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.
In addition, Metaplanet announced earlier today the issuance of the 12th series of zero-interest ordinary bonds, with a total amount of 3.6 billion yen (approximately $24.7 million), 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.
Metaplanet was originally a company developing Web3 and metaverse technologies and operating a hotel business. It later transformed into a Bitcoin financial enterprise in April 2024, adopting Bitcoin as its core financial reserve asset to hedge against Japan's debt burden and the resulting fluctuations in the yen.
As of April 24, Metaplanet holds a total of 5,000 Bitcoins (valued at approximately $485 million based on the current price of about $97,000). According to Metaplanet CEO Simon Gerovich, the purchase cost of these Bitcoins was approximately $428.1 million, with an average purchase price of about $85,621.
Gerovich stated on social media platform X that Metaplanet's stock MTPLF, listed on the US OTC market, has seen a significant increase in trading volume recently and has reached a historic high for the fourth consecutive day. He also wrote in another tweet:
"Our unrealized gains on Bitcoin now exceed 6 billion yen, which is more than 4 times our market cap before we adopted the Bitcoin standard."
Our unrealized gains on Bitcoin have finally surpassed 6 billion yen, which is more than 4 times our market cap before we adopted the Bitcoin standard.
— Simon Gerovich (@gerovich) May 1, 2025
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