Metaplenet (3350), the Bitcoin Treasury (BTC) Treasury Company in Japan, said it established two subsidiaries, one in Japan and one in the US. UU., And bought the name of the Bitcoin.jp domain, since it strengthens its commitment to the largest cryptocurrency.
Bitcoin Japan Inc., will be based on Tokyo and will administer a set of media, conferences and online platforms linked to Bitcoin, including Internet Domain and Bitcoin Japan magazine.
The US unit, Metaplenet Income Corp., will be based on Miami and will focus on generating income from Bitcoin related financial products, including derivatives, the company said in a publication about X.
Metaplenet said that he launched a Bitcoin income generation business in the last quarter of 2024 and aims to scalar these operations even more through the new subsidiary. Both absolute property subsidiaries are directed in part by the CEO of Metaplanet, Simon Gervich.
Earlier this month, the company brought its Bitcoin holdings to more than 20,000 BTC. It is currently the sixth largest Bitcoin Treasury company in the world, with 20,136 BTC in its general balance, according to Bitcintrease data. The leading firm, Strategy (Mstr), has 638,985 BTC.
The subsidiaries are established shortly after the company announced plans to raise a net of 204.1 billion yen ($ 1.4 billion) in a sale of international shares to reinforce its BTC holdings.
Metaplenet’s shares fell 1.16% on Wednesday.
