Tokyo-based Metaplanet is launching a wholly-owned subsidiary in Florida, dubbed Metaplanet Treasury Corp., to strengthen its strategy focused on Bitcoin (BTC). The new entity will receive funding of up to $250 million aimed at facilitating its treasury operations. This move is designed to allow operations across various global time zones and increase access to U.S. institutional capital.

Florida was chosen due to its emergent reputation as a center for Bitcoin innovation and business adoption.

“The state is rapidly becoming a global hub where Bitcoin innovation, corporate adoption, and financial liberalization are accelerating,” said Metaplanet CEO Simon Gerovich.
Translation: “州は急速にビットコインの革新、企業の採用、金融の自由化が加速している世界的中心地になりつつあります。”

In addition to this, Metaplanet recently acquired a substantial amount of Bitcoin, increasing its total holdings to 5,000 BTC. This ongoing strategy has drawn parallels to the U.S.-based firm MicroStrategy, known for its aggressive Bitcoin accumulation.