Metaplanet to Issue Perpetual Preferred Shares in Bid to Boost Bitcoin Holdings
Metaplanet, a Tokyo-listed firm targeted on bitcoin treasury technique, introduced its new “Phase II” initiative, underneath which it’s going to situation perpetual most popular shares to elevate capital for additional Bitcoin acquisitions.
The mechanism is designed to scale back dilution of frequent inventory whereas sustaining the agency’s aggressive accumulation tempo.
Phase II unveils new capital device to increase Bitcoin publicity
The firm has already set an formidable “555 Million Plan” that goals for 100,000 BTC by the top of 2026 and 210,000 BTC by the top of 2027. According to its newest disclosure, Metaplanet holds round 30,823 BTC—up from 1,762 BTC firstly of the 12 months, representing an almost 17-fold improve.
BTC Treasuries stated Metaplanet has flipped Adam Back’s agency to rank fourth in world Bitcoin holdings.
Metaplanet has previously financed its purchases via fairness issuance, which diluted shareholders however helped the corporate achieve market visibility, together with inclusion in the FTSE Japan Index. The broader pattern reveals more Japanese companies adopting Bitcoin as a treasury asset, searching for diversification alongside world friends like MicroStrategy.
How the Preferred Share Plan Works
Under Phase II, Metaplanet will issue perpetual most popular shares with a capped dividend yield of 6%. The construction offers traders regular returns, whereas any bitcoin appreciation above that stage accrues to the corporate’s enterprise worth.
Management argues the mannequin preserves mNAV—per-share bitcoin publicity—with out additional diluting frequent fairness.
In parallel, Metaplanet outlined plans to broaden its “Bitcoin.jp” platform, aiming to combine schooling, occasions, and companies to strengthen Japan’s bitcoin infrastructure.
Skeptics warn that perpetual most popular shares carry interest-rate threat, and underperformance in Bitcoin may make dividend prices burdensome. Market analysts also caution that forced liquidations throughout fairness sell-offs may spill into bitcoin markets, including volatility.
“Metaplanet’s Bitcoin Income Generation phase posted 115.7% quarterly income development, prompting us to double FY2025 income steerage. These outcomes strengthen the muse for our deliberate most popular share issuance supporting the Bitcoin Treasury technique,” said Simon Gerovich, CEO of Metaplanet
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