According to Odaily, Japanese listed company Metaplanet has announced the establishment of a wholly-owned subsidiary in the British Virgin Islands. The move is aimed at strengthening the strategic management of their Bitcoin (BTC) assets. Previously, the directors of Metaplanet had approved a plan to purchase Bitcoin, valued at approximately $6.25 million (1 billion yen).
The establishment of the subsidiary in the British Virgin Islands is a strategic move by Metaplanet to enhance its management and control over its Bitcoin assets. This comes after the company's board of directors gave the green light for a significant investment in Bitcoin. The investment, which is estimated to be worth around $6.25 million, underscores the company's commitment to integrating digital currency into its asset portfolio.
The decision by Metaplanet to invest in Bitcoin and establish a subsidiary for its management indicates a growing trend among corporations to embrace digital currencies. As the value and acceptance of Bitcoin and other cryptocurrencies continue to rise, more companies are exploring ways to incorporate these digital assets into their strategic plans. Metaplanet's move is a clear indication of this trend.
