Japanese firm Metaplanet secured shareholder approval to raise approximately $884M through the issuance of up to 550M new shares overseas.
The funds raised are primarily earmarked for expanding Metaplanet’s Bitcoin holdings, and are spearheaded in large part by Eric Trump, son of US President Donald Trump, and a Metaplanet advisor.
Metaplanet continues its aggressive accumulation of Bitcoin, purchasing an additional 1,009 $BTC (worth about $112M).
This brings its total holdings to approximately 20,000 $BTC, surpassing fellow public holder Riot Platforms, and placing it at number six on the list of top global corporate Bitcoin holders.
But the aggressive strategy is running a bit of a risk. The company’s innovative funding mechanism – a ‘Bitcoin flywheel’ of warrant-driven funding predicated on a rising stock price – is stalling.
In response, Metaplanet advocated a fallback: a shareholder vote to consider issuing up to 555M preferred shares, potentially raising as much as $3.7B. These preferred instruments would offer dividends (up to 6% annually) and act as a buffer against further dilution of common shares.
The meeting to vote on the preferred shares proposal took on new luster when Eric Trump, appointed as a strategic advisor earlier this year, attended. He participated in a Tokyo event complete with costumes, food trucks, and a K-pop performance.
Despite the media being barred from entry, his presence highlighted the firm’s high-profile crypto positioning.
And with his support, all the major proposals – including the new stock issuance – passed.
With that hurdle apparently cleared, Metaplanet’s long-term roadmap remains bold: it aims to accumulate over 210K $BTC by the end of 2027 – roughly 1% of all Bitcoin ever to exist – by leveraging its holdings to acquire profit-generating businesses.
Metaplanet shares traded down around 5–6% on the day, indicating that the company’s moves don’t completely sway investors. At the same time, analysts remain bullish on the longer-term upside.
Metaplanet’s Bitcoin moves come when some of Bitcoin’s underlying limitations are becoming more obvious. Yes, Bitcoin is one of the best stores of value ever created – but as the crypto and web3 economies expand, Bitcoin risks being left behind.
That’s where Bitcoin Hyper comes in.
Metaplanet is doubling down on its Bitcoin treasury strategy, advancing bold capital raises even as its share price retreats. The outcome hinges on whether its preferred share issuance can revitalize its funding flywheel.
As always, do your own research. This isn’t financial advice.
Authored by Bogdan Patru, Bitcoinist — https://bitcoinist.com/metaplanet-to-add-844m-in-btc-treasury-to-save-itself-pump-for-bitcoin-hyper/
