Metaplanet announced on September 17 the acquisition of the domain Bitcoin.jp. The company also established new subsidiaries in the U.S. and Japan to reposition the hotel group into a prominent role as a corporate Bitcoin (BTC) treasury. The initiative targets institutional investors, derivatives traders, and corporate treasuries, clearly separating revenue-generating activities from the management of its BTC holdings.
Strategic Move: Domain and New Subsidiaries
On September 17, Metaplanet incorporated Metaplanet Income Corp. in Miami, with a capital of $15 million. This U.S. entity will focus on Bitcoin-linked products, including derivatives operations, with the goal of segregating revenue streams from BTC holdings.
In parallel, the company launched Bitcoin Japan Inc., headquartered in Roppongi Hills (Tokyo). This subsidiary will manage the newly acquired Bitcoin.jp domain and media assets such as Bitcoin Magazine Japan and the Bitcoin Japan Conference.
The corporate restructuring establishes a clear separation: on one side, income-generating activities, and on the other, treasury management in Bitcoin, directly impacting institutional investors, derivatives traders, and corporate treasuries.
Financing, Transparency, and Market Implications
To finance its expansion, Metaplanet announced an international equity offering of ¥204.1 billion (approx. $1.4 billion). More than 70 institutional investors are participating in the operation. The placement aims to increase the company’s Bitcoin reserves and reinforce its positioning as a leading corporate treasury.
The company also revealed a partnership with Hoseki to implement proof-of-reserves, a measure designed to enhance transparency over its BTC holdings.
At the leadership level, Simon Gerovich is heading international initiatives, while Dylan LeClair and Darren Winia will oversee U.S. operations, and Yoshihisa Ikurumi will co-lead the project in Japan. Metaplanet’s stock has shown volatility following these announcements, reflecting both regulatory uncertainty and the valuation risks faced by companies with BTC treasuries and derivatives exposure.
Analysts warn of regulatory challenges and highlight the potential impact on liquidity and the Bitcoin market price if more corporations adopt similar strategies.
The consolidated operation of September 17 includes the ¥204.1 billion equity offering and the creation of two strategic subsidiaries to separate income and treasury in BTC. This expansion could accelerate the institutionalization of BTC treasuries and open new avenues of monetization —derivatives, events, and media— while also raising regulatory and operational challenges such as accounting separation between revenues and holdings, the need for reserve audits, and risk management of leveraged perpetual contracts.
