Japanese companies are going crazy! The Asian version of 'MicroStrategy' is madly acquiring 250 million USD in Florida, challenging the big brother with a Bitcoin lightning battle?

Author: ADRIAN ZMUDZINSKI, Cointelegraph

Compiled by: Lawrence, Mars Finance

Metaplanet will establish a branch in the United States, planning to raise $250 million for its Bitcoin strategy.

Metaplanet announced the establishment of a U.S. subsidiary to expand its Bitcoin accumulation strategy, aiming to raise up to $250 million and attract U.S. institutional investors.

Metaplanet, a Japanese company focused on accumulating Bitcoin, has announced that it will establish a subsidiary in the United States.

Recommended reading: Why did the Japanese company Metaplanet continue to increase its Bitcoin holdings while the market was declining, with a 48-fold increase in one year?

Metaplanet announced in a post on May 1 that it will establish a wholly-owned subsidiary in Florida. Furthermore, the new subsidiary is expected to raise up to $250 million to support its Bitcoin accumulation strategy and attract U.S. institutional investors.

Metaplanet stated in another announcement that the headquarters of the new subsidiary will be located in Miami. The company also pointed out that the environment in Florida is particularly favorable:

"Florida is a rapidly emerging hub for Bitcoin companies and financial innovation, known for its business-friendly policies and its rising status as a global center for capital and technology."

The company explained that the choice of Florida is due to the supportive environment for Bitcoin, which is said to benefit Bitcoin's corporate adoption and financial liberalization. The new subsidiary is also expected to expand the company's business into new time zones.

Metaplanet's comments come on the heels of Florida becoming one of the most Bitcoin-friendly states in the U.S. In April of this year, the Florida House Insurance and Banking Committee approved a bill allowing the state treasury to invest in Bitcoin — the bill was introduced in early February.

The cryptocurrency industry has deep roots in Florida and is closely related to its political landscape. Two Republicans received a total of $1.5 million in funding from the cryptocurrency-supported political action committee (PAC) Fairshake, and they will enter the U.S. House of Representatives after winning the special election in Florida.

Analysis in mid-February also showed that the Florida Retirement System State Board of Administration Fund held 160,470 shares of Strategy stock, worth $46 million at the time. Strategy (formerly known as MicroStrategy) is a sibling of Metaplanet: a company focused on accumulating Bitcoin, and also its largest corporate shareholder.

Previously, Florida Chief Financial Officer Jimmy Patronis suggested that the agency managing the state's retirement fund consider investing in Bitcoin. In a letter sent in late October 2024, he expressed his thoughts to Chris Spencer, the Executive Director of the Florida Cabinet.

Metaplanet continues to develop

According to data from the Metplanet official website, as of the writing of this article, the company holds exactly 5,000 Bitcoins, worth $474.7 million. Although this is far from the holdings of Strategy (which exceeds 2% of the future total Bitcoin supply), it represents a growth of 184% compared to the 1,762 Bitcoins held by the company on the first day of 2025.

The Bitcoin holdings chart of Metaplanet. Source: BitcoinTreasuries.NET

In early April, Metaplanet announced the acquisition of 696 bitcoins for 10.2 billion yen (67 million USD). Later that month, the company acquired 330 bitcoins for 28.2 million USD, with an average price of 85,605 USD per bitcoin, bringing its total holdings to 4,855 bitcoins. Subsequently, at the end of the month, the company acquired another 145 bitcoins for 1.9 billion yen (approximately 13.4 million USD), bringing its total holdings to 5,000 bitcoins.