Asian investment firms are stepping up their Bitcoin accumulation strategies, with Japan’s Metaplanet and Hong Kong’s HK Asia Holdings leading the way.

Tokyo-based Metaplanet disclosed on April 24 that it acquired an additional 145 Bitcoin (BTC) for 1.9 billion Japanese yen (around $13.4 million), boosting its total holdings to 5,000 BTC.

Metaplanet CEO Simon Gerovich confirmed the company had reached 50% of its initial goal of amassing 10,000 BTC by the end of 2025.

Metaplanet CEO Simon Gerovich announcing Bitcoin purchase. Source: Simon Gerovich

The firm has been aggressive in its Bitcoin treasury operations, using bond issuances and Bitcoin income strategies such as selling cash-secured BTC put options to finance its acquisitions.

Since initiating its Bitcoin strategy, Metaplanet’s stock has surged over 3,000%. The company aims to hold 21,000 BTC by the close of 2026.

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HK Asia Holdings to raise $8.35 million for BTC purchases

HK Asia Holdings has also announced plans to raise about $65 million Hong Kong dollars ($8.35 million) by issuing new shares and convertible notes to potentially buy more BTC.

According to an April 23 filing, the company entered into share subscription and convertible note (CN) subscription agreements after trading hours.

The deal includes issuing 3,272,000 new shares at a subscription price of HK$4.01 per share, alongside convertible notes valued at HK$52.38 million in aggregate principal amount. The newly issued shares will represent about 0.82% of HK Asia Holdings’ total shares in circulation.

While the filing does not mention that HK Asia Holdings intends to use the funds to buy Bitcoin, many in the crypto community speculated that the capital raise is expected to fund further Bitcoin acquisitions.

Source: Cointelegraph

The speculation follows HK Asia’s February decision to step into Bitcoin markets. After buying its first BTC on Feb. 16, the firm doubled its share price within a day.

By Feb. 20, HK Asia expanded its holdings by purchasing an additional 7.88 BTC, bringing its total to nearly 9 BTC at an average price of $97,021 per coin.

Shares in HK Asia were up by around 5.4% on April 24 at the Hong Kong stock market closing, according to Google Finance.

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Saylor’s Strategy champions Bitcoin strategy

Michael Saylor’s Strategy, the world’s largest publicly listed corporate Bitcoin holder, has championed the Bitcoin accumulation strategy by consistently issuing convertible notes and at-the-market (ATM) equity offerings to fund aggressive Bitcoin purchases.

In February, Strategy announced plans to raise another $2 billion through 0% senior convertible notes to purchase more Bitcoin.

As of April 20, Strategy held 538,200 BTC on its balance sheet. The figure includes the company’s most recent acquisition of 6,556 BTC for about $555.8 million.

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The telecommunications decentralized physical infrastructure network (DePIN) project, Helium, partnered with US telcom giant AT&T to bring WiFi to its users.

According to an April 24 announcement shared with Cointelegraph, as part of the partnership, AT&T customers can now connect to Helium’s community-built WiFi network. Helium Mobile data shows that the network includes over 93,500 hotspots, most of which are in the United States.

Helium Network nodes map. Source: Helium World

The Helium Network is run by individuals and businesses that acquire and operate small cell towers that act as hotspots. Those individuals are rewarded with digital assets for their help in developing the network and providing coverage.

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Helium Mobile (Helium’s mobile network division) co-founder and CEO Amir Haleem said that partnering with an industry leader such as AT&T will “rapidly accelerate the adoption of Helium and provide real-world value” to both network participants and the partner’s customers. He also hinted that “this is only the beginning” and that more announcements are to come.

Centralized and decentralized, now united

The integration with AT&T enables WiFi authentication via AT&T’s Passpoint WiFi roaming service that allows customers to automatically connect to WiFi networks when participating networks are available. With this system, decentralized nodes are integrated into a traditional service network.

Helium claims that its decentralized network already has over 800,000 daily users leveraging it for connection. The firm has signed agreements with Telefónica’s Movistar in Mexico and is working with other unspecified mobile network operators that leverage the network to enhance their coverage. The deal follows Helium Mobile’s announcement of a free plan in February, which the company claims is the first free phone plan in the US.

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A storied company

In January, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Helium developer Nova Labs. The lawsuit was filed just days before the previous SEC chair, Gary Gensler, stepped down, and alleged that the company sold unregistered investment products.

Earlier in April, the SEC settled with Nova Labs and dismissed the lawsuit after payment of a $200,000 civil penalty. A company representative said at the time:

“[T]he outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC [and] that the SEC cannot bring these charges against Helium again.”

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A bill that would allow New Hampshire to invest a portion of its state funds in digital assets and precious metals has advanced to a full Senate vote after passing a second committee.

On April 23, House Bill 302 (HB 302) was reviewed in the second Senate committee and passed in a 4-1 vote.

The legislation, introduced in January, cleared the New Hampshire House earlier this month in a 192–179 vote. It now faces a vote by the full Senate and, if approved, will require the governor’s signature to become law.

Once enacted, it would allow the New Hampshire treasury to use 10% of the state’s general funds to invest in crypto with a market cap of over $500 billion — a threshold currently met only by Bitcoin (BTC).

Source: Bitcoin Laws

Democratic representative opposes New Hampshire’s crypto reserve bill  

During a debate before the full House vote, Democratic Representative Terry Spahr argued that the bill is unnecessary. 

The lawmaker said it could undermine the future security of the state’s digital asset stockpile. Spahr argued that the state treasurer already has the authority to manage investments without the bill.

Others said that it could earn the state good returns for its investment. Republican Representative Jordan Ulery said the investments could net the state a “large amount of money.”

Related: US federal agencies to report crypto holdings to Treasury by April 7

Bitcoin Laws, which tracks the progress of digital asset legislation, shows that New Hampshire also has two more blockchain-related bills going through its legislature. 

HB 639 addresses blockchain dispute resolution and regulatory frameworks, while HB 310 focuses on real-world asset tokenization and stablecoin usage.

New Hampshire’s progress comes as Arizona pursues a more aggressive approach by exploring the creation of a strategic Bitcoin reserve, aiming to become the first US state to implement the policy.

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