Metaplanet, a Japanese hospitality and real estate enterprise that has shifted focus to Bitcoin treasury management, is enhancing its cryptocurrency approach by launching two new subsidiaries, one in the United States and another in Japan.
In a Wednesday tweet on X, the Tokyo-based company announced the creation of Metaplanet Income Corp., a fully owned subsidiary in Miami with an initial capital investment of $15 million, as per its disclosure.
This subsidiary will focus on generating income from Bitcoin (BTC) and engage in derivatives trading, establishing a clear division between Metaplanet’s core BTC assets and its revenue-generating activities.
Management of the subsidiary will include Metaplanet CEO Simon Gerovich, along with Dylan LeClair and Darren Winia. The firm indicated that this move is expected to have a negligible effect on its consolidated financial results for the fiscal year ending December 31.
Related: Facing falling stock prices, Metaplanet announces a 385M share offering to acquire BTC
Metaplanet launches new subsidiary in Japan
In its home market, Metaplanet has also launched Bitcoin Japan Inc. to bolster its local Bitcoin-related initiatives. Located in Tokyo’s Roppongi Hills, this entity will manage media, events, and oversee Bitcoin.jp, a recently acquired domain.
The Tokyo-based operation will additionally oversee Bitcoin Magazine Japan and the Bitcoin Japan Conference, broadening Metaplanet’s influence in domestic crypto media and community outreach. Directors Simon Gerovich and Yoshihisa Ikurumi will spearhead this effort.
These dual announcements are part of the company’s Bitcoin income ventures, which were initiated in the fourth quarter of 2024. The news follows closely after the firm disclosed plans to generate 204.1 billion yen ($1.4 billion) through an international share offering to increase its BTC holdings.
Related: Metaplanet’s Bitcoin strategy encounters fundraising challenges as stock prices fall: Report
Metaplanet becomes sixth-largest Bitcoin holder
With more than 20,136 BTC now recorded on its balance sheet, Metaplanet is recognized as the sixth-largest Bitcoin treasury holder worldwide, only surpassed by major entities such as MicroStrategy, according to BitcoinTreasuries.NET.
The leading three public Bitcoin treasury holders are all based in the US, with MicroStrategy at the forefront, holding an enormous 638,985 BTC valued over $74 billion. Following it, Mara Holdings has 52,477 BTC valued at approximately $6.1 billion, and XXI in third place with 43,514 BTC worth $5.07 billion.
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