Japanese investment firm Metaplanet is making bold moves in the digital asset space. The company has filed a shelf registration to raise up to 555 billion yen (approximately $3.6 billion) through the issuance of perpetual preferred stock. This major capital raise is part of its ambitious strategy to acquire 210,000 Bitcoin by 2027, positioning Metaplanet among the largest institutional holders of BTC globally.
Innovative Financing Through Two Classes of Perpetual Preferred Shares
To fund its Bitcoin acquisition plan, Metaplanet proposes issuing two classes of perpetual preferred shares, each designed to appeal to different types of investors.
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Class A shares would function similarly to corporate bonds, offering up to 6% dividends and liquidation priority. These shares are ideal for more risk-averse investors looking for income and capital protection.
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Class B shares are tailored for investors seeking upside potential. They include conversion rights into common stock via put options, allowing holders to potentially benefit from Metaplanet’s future growth.
Neither class will carry voting rights, and the actual issuance date is yet to be confirmed, pending shareholder approval and regulatory review.
Bitcoin Holdings and Market Performance
Metaplanet is no stranger to Bitcoin investment. The firm currently holds 17,132 BTC, valued at approximately $2 billion. This holding has delivered a 430.2% year-to-date yield, underscoring the firm’s aggressive and successful crypto strategy.
The company’s stock is also attracting increasing investor attention. In June, Metaplanet’s trading volume surged to 1.86 trillion yen, nearly doubling its volume from May. The buzz is expected to grow as the company moves closer to its goal.
A shareholder vote on the proposed issuance and structural changes is scheduled for September 1 at an extraordinary general meeting. The shelf registration will remain valid until August 2027, giving the company a flexible window to execute its strategy.
With a clear long-term vision and growing investor interest, Metaplanet is positioning itself to become a key institutional player in the Bitcoin ecosystem.
