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\n\t\t\t\t\t\t\t\t\tThe deal is for $13 million.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The third-largest corporate holder of bitcoin has made another move to strengthen its cryptocurrency presence by agreeing to acquire Siiibo Securities, a licensed Type I securities company and a \u201cpioneer of Japan\u2019s online corporate bond market.\u201d<\/p>\n
The closing is expected in July, and Siiibo will be officially renamed to Metaplanet Securities, said Simon Gerovich, the CEO of the bitcoin treasury company.<\/p>\n
The exec added that this marks his firm\u2019s first major acquisition and the first concrete step in Project Nova. The latter is Metaplanet\u2019s long-term strategy to build a \u201cBitcoin-centric financial ecosystem in Japan.\u201d<\/p>\n
Recall that Metaplanet followed Strategy\u2019s path by adding BTC into its balance sheet a couple of years ago and has gradually become<\/a> the third-largest corporate holder of the asset. Currently holding 40,177 units, Metaplanet trails only Twenty One Capital (43,514 BTC) and Michael Saylor\u2019s Strategy (a whopping 845,256 BTC<\/a>).<\/p>\n Gerovich said the significance of this acquisition is \u201chard to overstate,\u201d as Japanese households hold roughly $7.4 trillion in cash, deposits, and low-yield products. Japan is gradually shifting from deflation to inflation, and this substantial capital has \u201cbegan searching for yield.\u201d<\/p>\n \u201cBy bringing Siiibo\u2019s Type I registration and online securities platform into the group, we will develop and distribute Bitcoin-related yield products directly to Japanese investors, supported by the 40,177 BTC on our balance sheet, the largest corporate Bitcoin treasury in Asia,\u201d added<\/a> Gerovich.<\/p>\n<\/blockquote>\n Metaplanet\u2019s stock price reacted with an immediate uptick, surging by over 3.6%. However, the broader scale remains closely tied to bitcoin\u2019s decline as the shares are down by almost 32% monthly and by 47.5% over the past six months.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
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