The announcement caused Metaplanet shares to jump by close to 17%. Meanwhile, President Donald Trump once again reaffirmed his commitment to crypto adoption in his recent speech at the Blockworks Digital Asset Summit. Additionally, Trump-linked executives at Renatus Tactical Acquisition Corp I are planning a $179 million SPAC deal to acquire a US-based crypto or blockchain firm. However, the Trump administration’s crypto-friendly policies have sparked mixed reactions, with some critics warning of potential centralization risks. Eric Trump Joins Metaplanet as Adviser Metaplanet, a Bitcoin-stacking firm based in Japan, appointed Eric Trump , the son of US President Donald Trump, to its newly formed strategic board of advisers. The company announced the decision on March 21, and believes that Trump's business expertise and commitment to Bitcoin adoption are key assets in its mission to become a global leader in the Bitcoin economy. Metaplanet CEO Simon Gerovich pointed out Trump's contributions, and stated that his 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 who are dedicated to advancing Bitcoin adoption worldwide. By bringing in high-profile business leaders and advocates, the firm plans to solidify its position in the digital asset space and expand its influence in global markets. Metaplanet share price (Source: Google Finance ) The news had an immediate impact on Metaplanet’s stock, which surged 17.8% to 4,730 Japanese yen ($31.74) in the first 80 minutes of trading on the Tokyo Stock Exchange, according to Google Finance data . Investors seemed to respond very positively to the announcement, which signals that people have some confidence in the firm’s strategic direction and its growing Bitcoin reserves. Metaplanet currently holds about 3,050 Bitcoin, which is valued at approximately $4.1 billion. This makes it the 12th largest corporate Bitcoin holder, according to data from BitBo’s BitcoinTreasuries.NET . The company has been actively expanding its Bitcoin reserves through various financial instruments since its initial purchase on April 23 of 2024. With a clear focus on strengthening its Bitcoin position, Metaplanet mow plans to also align itself with industry leaders and advocates who share its vision for the future of Bitcoin. Donald Trump Speaks at Digital Asset Summit President Donald Trump is also still very focused on strengthening his administration’s ties with the cryptocurrency industry. In a pre-recorded address at the Blockworks Digital Asset Summit on March 20, Trump once again reaffirmed his commitment to making the United States the “crypto capital of the world.” He praised some of recent regulatory changes and placed a lot of emphasis on the role of blockchain pioneers when it comes to transforming the banking and payment system while enhancing privacy, security, and economic prosperity. He also talked about the importance of dollar-backed stablecoins in maintaining the dominance of the US dollar in global finance. Donald Trump’s video message at the Digital Asset Summit 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 also demonstrated through the first-ever White House Crypto Summit on March 7, where key industry executives convened to talk about the future of cryptocurrency regulations. Treasury Secretary Scott Bessent reinforced the government’s focus on stablecoin regulations, and presented them as a means of sustaining the US dollar’s status as the global reserve currency. Bo Hines, who is 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. Trump-Linked Firm Eyes Crypto Deals Meanwhile, three executives from Trump Media & Technology Group are leading a new company that may buy a US-based crypto or blockchain firm, due to the Trump administration’s strong support for the sector. Renatus Tactical Acquisition Corp I, a special-purpose acquisition company (SPAC) based in the Cayman Islands, is seeking to raise $179 million through public and private offerings, according to a regulatory filing on March 14, which was first reported by Forbes . Renatus Tactical plans to raise $178.94 million 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. While the company did not share any specific acquisition targets, it is exploring businesses related to data security and technology applications in both military and civilian sectors. Although it could acquire businesses globally, the SPAC intends to 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, including an executive order issued in early March to establish a Bitcoin reserve and a crypto stockpile, as well as a January directive to form a working group to draft cryptocurrency regulations. 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. This issue already affected major corporations kike Tesla, whose stock fell by more than 40% this year due to backlash over CEO Elon Musk’s role as the White House cost-cutting czar. The controversy surrounding Musk’s position led to protests, including burned Tesla vehicles and vandalized dealerships across the United States. Donald Trump net worth (Source: Forbes ) Donald Trump maintains a majority stake in Trump Media, which operates the social media platform Truth Social. His net worth has been estimated at $4.8 billion by Forbes and over $6.5 billion by Bloomberg , with his 114.75 million shares in Trump Media accounting for a big portion of his wealth. Those shares were placed into a trust in December to mitigate any potential conflicts of interest ahead of Trump’s inauguration.
