Japanese investment firm Metaplanet has announced plans to raise $3.7 billion through the issuance of perpetual preferred shares to significantly increase its Bitcoin holdings.
Strategic Bitcoin Holdings Target Set for 2027
Metaplanet aims to acquire 210,000 Bitcoin by 2027. This decision was confirmed by the company's CEO Simon Gerovich. "We are creating one of the largest corporate Bitcoin treasuries in the world."
Benefits of Perpetual Preferred Shares
The funding proposal of Metaplanet includes the issuance of two classes of perpetual preferred stock. Class A shares will be non-convertible, while Class B shares will offer conversion options to investors, providing greater flexibility. This approach facilitates fixed dividends and priority for preferred holders over common stockholders.
Market and Future of Metaplanet
Despite the short-term drop in Metaplanet's stock, the company has demonstrated a 115% increase over the last six months. Investors are showing interest in the Bitcoin acquisition strategy as Metaplanet positions itself as a major corporate buyer of cryptocurrency.
If shareholders approve the funding plan, Metaplanet could establish itself as a leading Bitcoin treasury company in Asia, which will be significant for its future in the growing market.
