2024

DeFi

Planet

<div class="intro-text">
 Metaplanet Inc. has<a style="color: #0000ff;" href="https://contents.xj-storage.jp/xcontents/33500/d655f2ce/d6e2/47bc/ba06/8eccca4c67a1/140120240624535445.pdf" rel="noopener noreferrer nofollow"> announced</a> the creation of Metaplanet Capital Limited, a wholly-owned subsidiary in the British Virgin Islands (BVI), to optimize its Bitcoin-related financial strategies.
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The new entity, set to launch in July 2024 with an initial capital of US$10,000, will focus on holding Bitcoins and engaging in Bitcoin-related business activities under the leadership of Representative Director Simon Gerovich. The parent company will hold a 100% stake in the company.
By establishing a subsidiary in the Islands, Metaplanet aims to leverage the territory’s favourable regulatory environment to enhance its strategic management of Bitcoin holdings and support global market expansion efforts.
This development marks a significant step in Metaplanet’s commitment to integrating Bitcoin into its core financial strategy and operations.
The Tokyo-based company recently<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/tokyo-based-investment-firm-metaplanet-shifts-to-bitcoin-only-reserve-strategy-amid-yens-decline/" rel="noopener noreferrer nofollow"> announced</a> that it was adopting a “Bitcoin-first, Bitcoin-only” approach for treasury and asset management. The company cites Japan’s economic pressures, including high government debt, prolonged negative real interest rates, and a weak yen, as key factors driving this strategy.
Following that announcement, Metaplanet’s Board of Directors<a style="color: #0000ff;" href="https://defi-planet.com/2024/06/metaplanet-to-issue-1-billion-yen-in-bonds-to-acquire-more-bitcoin/" rel="noopener noreferrer nofollow"> approved</a> the issuance of 1 billion yen (approximately 6.26 million USD) in bonds to finance further Bitcoin acquisitions. The bonds, carrying a 0.5% annual interest rate, will fund the purchase of about 100 BTC at current market prices, adding to Metaplanet’s existing 141.07 BTC holdings as of mid-June.&nbsp;
The company had purchased 117 BTC in May 2024 to demonstrate its commitment to its financial strategy.&nbsp;
The market responded positively to Metaplanet’s Bitcoin-centric direction. After the announcement, the company’s shares surged by 11.5% to 96 yen (60 cents) <a style="color: #0000ff;" href="https://www.google.com/finance/quote/3350:TYO" rel="noopener noreferrer nofollow">according to data from Google Finance</a>. This continues the trend of its stock price rising over 500% this year. For today’s trading session at the Japanese financial market, the stock closed at 95 yen (59 cents) according to the same source.
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The post <a href="https://defi-planet.com/2024/06/metaplanet-establishes-bitcoin-focused-subsidiary-in-british-virgin-islands/" rel="noopener noreferrer nofollow">Metaplanet Establishes Bitcoin-Focused Subsidiary in British Virgin Islands</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Metaplanet Establishes Bitcoin-Focused Subsidiary in British Virgin Islands

DeFi Planet

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