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.
</div>
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.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
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

25 Haz 2024 tarihli diğer yazılar

Shiba Inu’s Price Drop Unveils Flag Pattern: Will Bulls Reclaim Momentum?

2 Top Disruptor Solana Meme Coins Bouncing Back The Most

Crypto Prices Today June 25: Bitcoin Down To $60K, Meme & AI Coins Among Top Gainers

Investor Anthony Pompliano Proposes Stablecoins as Solution to U.S. Debt Crisis

FET’s BTC Ratio and ASI’s $150 Price Target: A Crypto Market Game-Changer?

Groundbreaking ‘Bitcoin Rights’ Bill Passes Into Law In Louisiana

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!