Metaplanet Appoints Eric Trump to Its Newly Formed Strategic Advisory Board

The move aims to advance Metaplanet's bitcoin adoption mission as bitcoin gains mainstream traction.

Japanese web3 company Metaplanet, which is also the nation's largest publicly listed bitcoin holder, has appointed Eric Trump to its newly formed strategic board of advisers.

The move aims to help further Metaplanet’s mission for bitcoin adoption as the cryptocurrency continues gaining mainstream traction.

Metaplanet announced the appointment on Friday, adding that Trump’s expertise and passion for bitcoin will be crucial in driving the company's goals.

The advisory board will also include other high-profile figures yet to be named, according to Metaplanet. The focus will be on bringing together leaders in business, politics and technology to further bitcoin’s acceptance.

“We are honored to welcome Eric Trump to Metaplanet’s newly formed Strategic Board of Advisors,” said Metaplanet Representative Director Simon Gerovich. “We are huge fans of the Trump family and their passion for America.

“We know that Eric will bring his experience in business and his enthusiasm for the Bitcoin community to help us continue to build one of the world’s leading Bitcoin Treasury Companies.”

The Tokyo-based company has been rapidly expanding its bitcoin holdings. As of March, it is estimated to own more than 3,200 BTC, valued at around $267 million. Earlier in March, Metaplanet purchased an additional 150 bitcoins for an aggregate amount of $12.5 million.

Founded in 1999, Metaplanet has been investing in bitcoin and bitcoin mining and is a strong advocate for the cryptocurrency sector. The company’s shares trade on the Tokyo Stock Exchange and it was previously known as Red Planet Japan.

The company’s move to enlist Trump in its advisory capacity comes as the crypto industry is coming under increasing scrutiny from regulators around the world.

Trump has become a noted supporter of bitcoin and crypto. He is also an executive at World Liberty Financial, a Trump family crypto venture.

Meanwhile, Trump’s father, U.S. President Donald Trump, recently signed an executive order to launch a strategic bitcoin reserve.

As bitcoin becomes a more common asset for corporations, major companies could be a key driver for institutional adoption.