Metaplanet stock price rises 5%, Bitcoin subsidiary established in Florida; capital to reach up to 36 billion yen

On May 1, Metaplanet Co., Ltd.'s stock price rose 5% from the previous day to over 400 yen. This is thought to be due to investors' favorable reaction to the company's announcement on the same day of its plan to establish a US subsidiary, "Metaplanet Treasury Corporation."

The new company will be established in Miami, Florida, and will mainly hold and manage Bitcoin (BTC) and engage in Bitcoin-related operations. It will have capital of $250 million ($100 million at the time of establishment), and will be a wholly owned subsidiary of Metaplanet with all shares held by it. Simon Gerovich and Daylan Leclerc are scheduled to serve as directors.

Metaplanet is...