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Metaplanet to Issue Preferred Shares as Part of Bitcoin Reserve Strategy

Metaplanet to Issue Preferred Shares as Part of Bitcoin Reserve Strategy

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by Giorgi Kostiuk

2 hours ago

Japan-based public company Metaplanet has announced plans to issue preferred shares to finance its Bitcoin reserve strategies.

Plans for Share Issuance

Metaplanet intends to raise capital amounting to up to 555 billion yen (approximately $3.8 billion) to purchase Bitcoin. The company has also filed a registration application with the Japan Financial Services Agency (FSA).

Characteristics of the Shares

According to the company, Class A shares will be 'senior and non-convertible,' while Class B shares will be 'convertible,' and both classes will fall under the perpetual preferred share category.

Bitcoin Reserve Strategy

Currently, Metaplanet holds 0.081% of the total Bitcoin supply, amounting to approximately $1.93 billion in assets. This new funding round aims to potentially double these holdings.

Metaplanet's plans for preferred share issuance highlight its strategic approach to increasing Bitcoin reserves amid shifting market conditions.

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