Metaplanet (3350), the largest Bitcoin cash (BTC) in Japan, said it has established two subsidiaries – one in Japan and one in the United States – and bought the Bitcoin.jp domain name because it strengthens its commitment to the largest cryptocurrency.
Bitcoin Japan Inc. will be based in Tokyo and will manage a series of media, conferences and online platforms linked to Bitcoin, including the Internet field and Bitcoin Japan magazine.
The American unit, Metaplanet Income Corp., will be based in Miami and will focus on the generation of income from Bitcoin -related financial products, including derivatives, said the company in an article on X.
Metaplanet noted that he had launched a Bitcoin revenue generation company in the last quarter of 2024 and aims to evolve these operations through the new subsidiary. The two exclusive property subsidiaries are partly directed by the CEO of Metaplanet, Simon Gerovich.
Earlier this month, the firm brought its Bitcoin assets to more than 20,000 BTC. It is currently the sixth Bitcoin cash company in the world, with 20,136 BTC in its balance sheet, according to BitcoinTheries data. The main company, Strategy (MSTR), has 638,985 BTC.
The subsidiaries are established shortly after the company announced its intention to increase a net yen of 204.1 billion yen ($ 1.4 billion) for the sale of international shares to strengthen its BTC assets.
Metaplanet’s stock dropped 1.16% on Wednesday.
