The Metaplanet Board of Directors (3350) approved a capital injection up to 5 billion dollars for its American subsidiary, Metaplanet Treasury Corp, in order to accelerate its bitcoin
Acquisition strategy.
The Japanese hotel company created its subsidiary based in Florida on May 1, aimed at extending its global Bitcoin cash operations.
The contribution should considerably accelerate the implementation of its “555 million plan”, revealed earlier on June 6, the company said in a statement.
Metaplanet’s strategic objective is to accumulate up to 210,000 BTC by the end of 2027, by taking advantage of the deep capital markets and advanced institutional infrastructure in the United States to optimize acquisition and management processes.
This American expansion is aligned with the broader vision of the company to establish a global cash model which supports the value of shareholders, improves the effectiveness of treasury yields and strengthens its leadership on the Bitcoin capital markets.
The financing of this contribution will come from the exercise of the 20th to the 22nd series of actions acquisition rights, and all profits will be directed to additional Bitcoin purchases. Above all, there is no change in the planned use of the previously disclosed funds.
The financial impact on the results of the current financial year should be minimal, but Metaplanet is committed to quickly disclosing any material development.
The actions of the metaplanet listed in Tokyo, the eighth largest Bitcoin holder, with 11,111 BTC, closed 7% less on Tuesday.
Read more: Metaplanet buys 1,111 bitcoin for $ 117 million, pushes Total Holdings to more than 11,000 BTC BTC
