In an announcement made earlier today, Tokyo-listed Metaplanet stated it had established a new wholly-owned subsidiary in the US called Metaplanet Income Corp. to expand its BTC income business.
It should be noted that Metaplanet recently concluded a massive $1.4 billion capital raise. The firm’s US subsidiary will provide Metaplanet the opportunity to pursue derivatives operations and related activities that produce cash flow and revenue.
The establishment of Metaplanet Income Corp. will help the firm have a clear separation between the Bitcoin income generation business, and its core BTC treasury operations. This will help the company enhance transparency, governance, and risk management.
This business has become our engine of growth, generating consistent revenue and net income. We are cash flow positive, producing significant internal cash flow to support future initiatives.
Bitcoin Japan Inc., will primarily look after an array of BTC-based media such as conferences and online platforms, the Bitcoin.jp domain, and Bitcoin Magazine Japan. Notably, the domain was purchased from a private investor who had held it for over a decade.
Gerovich also commented on Metaplanet’s recent $1.4 billion capital raise, stating that almost 100 investors had joined the roadshow, with more than 70 of them ultimately investing. These investors include sovereign wealth funds, hedge funds, and other similar financial entities.
Metaplanet’s long-term ambition remains to be the second-largest holder of BTC, behind Michael Saylor-led Strategy. According to data from Coingecko, Metaplanet currently holds 20,136 BTC on its balance sheet.
