TechFlow news, June 24 — According to The Block, Japanese company Metaplanet announced on Tuesday that its board of directors has approved injecting $5 billion into its wholly-owned U.S. subsidiary. The company established its U.S. division in Miami, Florida last month as part of its global expansion. Metaplanet stated it has completed the initial capitalization phase and is now entering an active expansion phase.
Metaplanet plans to secure the $5 billion through the exercise of stock acquisition rights. The company began implementing a Bitcoin accumulation strategy in April 2024, believing it will enhance shareholder value over the long term.
On Monday, Metaplanet announced adding 1,111 bitcoins to its treasury, bringing its total holdings to 11,111 bitcoins. According to data from bitcointreasuries.net, this makes Metaplanet the eighth-largest corporate holder of Bitcoin, just 398 bitcoins behind Tesla.
