Eric Trump Joins Metaplanet’s Strategic Board, Stock Surges 17.8%

Metaplanet, a Bitcoin-stacking firm based in Japan, has appointed Eric Trump, the son of former US President Donald Trump, to its newly formed strategic board of advisers. The company announced this decision on March 21, highlighting Trump's business expertise and commitment to Bitcoin adoption as key assets in its mission to become a global leader in the Bitcoin economy. Metaplanet CEO Simon Gerovich emphasized that Trump's experience in finance, real estate, and brand development, along with his strong ties to the Bitcoin community, will be instrumental in accelerating the company’s growth as a major Bitcoin Treasury Company.

The appointment is part of Metaplanet’s broader strategy to assemble a board of influential people dedicated to advancing Bitcoin adoption worldwide. By bringing in high-profile business leaders and advocates, the firm aims to solidify its position in the digital asset space and expand its influence in global markets. Metaplanet currently holds about 3,050 Bitcoin, valued at approximately $4.1 billion, making it one of the largest corporate Bitcoin holders. The company has been actively expanding its Bitcoin reserves through various financial instruments since its initial purchase on April 23 of 2024.

Metaplanet's stock surged 17.8% to 4,730 Japanese yen ($31.74) in the first 80 minutes of trading on the Tokyo Stock Exchange, indicating investor confidence in the firm’s strategic direction and its growing Bitcoin reserves. The company plans to align itself with industry leaders and advocates who share its vision for the future of Bitcoin, further strengthening its position in the digital asset space.

Meanwhile, Donald Trump has reaffirmed his commitment to making the United States the “crypto capital of the world” in a pre-recorded address at the Blockworks Digital Asset Summit on March 20. Trump praised recent regulatory changes and emphasized the role of blockchain pioneers in transforming the banking and payment system while enhancing privacy, security, and economic prosperity. He also highlighted the importance of dollar-backed stablecoins in maintaining the dominance of the US dollar in global finance.

Since taking office, Trump signed multiple executive orders in support of digital assets, including the establishment of the Working Group on Digital Assets and a Bitcoin strategic reserve. His administration’s proactive stance was demonstrated through the first-ever White House Crypto Summit on March 7, where key industry executives convened to discuss the future of cryptocurrency regulations. Treasury Secretary Scott Bessent reinforced the government’s focus on stablecoin regulations, presenting them as a means of sustaining the US dollar’s status as the global reserve currency. Bo Hines, executive director of the Council of Advisers on Digital Assets, confirmed that a stablecoin bill will likely be presented to Trump within the next two months.

Despite the administration’s enthusiasm, the White House Crypto Summit received mixed reactions from the crypto community. Institutional investors largely welcomed the event as a historic milestone, while retail investors and Bitcoin supporters were more skeptical. Critics accused the gathering of catering to industry lobbyists promoting state-backed digital assets rather than fostering true decentralization. Bitcoin maximalist Justin Bechler labeled the summit as a “gathering of rent-seeking lobbyists pushing state-approved surveillance tokens.” The market response was also unfavorable, with Bitcoin dropping by more than 7% in the days after the summit and the announcement of the Bitcoin strategic reserve order.

While Trump’s administration is taking concrete steps toward integrating digital assets into the financial system, there is still division in the crypto community over the long-term implications of these policies. For now, the industry can only wait for more developments that could shape the future of cryptocurrency adoption in the United States.

Additionally, three executives from Trump Media & Technology Group are leading a new company that may buy a US-based crypto or blockchain firm. Renatus Tactical Acquisition Corp I, a special-purpose acquisition company based in the Cayman Islands, is seeking to raise $179 million through public and private offerings. The company is exploring businesses related to data security and technology applications in both military and civilian sectors, with a focus on high-potential companies based in the United States. Renatus Tactical pointed to the Trump administration’s recent moves to integrate digital assets into the US financial system as a driving force behind its plans.

Eric Swider, the CEO of Renatus Tactical, is a director at Trump Media and previously served as the CEO of Digital World Acquisition Corp., the SPAC that facilitated Trump Media’s public listing. Alexander Cano, the operating chief of Renatus Tactical, was formerly the president of Digital World, while Devin Nunes, the CEO and chair of Trump Media, also serves as the chair of Renatus Tactical. The company acknowledged that its close ties to Trump Media could pose some challenges, as some businesses and service providers may be reluctant to engage because of its affiliation with the president.