Japanese investment firm Metaplanet Inc. has announced a plan to raise $3.7 billion to significantly expand its Bitcoin (BTC) treasury. The capital will be sourced through the issuance of perpetual preferred shares pending shareholder approval.
This substantial fundraise aims to accumulate Bitcoin holdings totaling 210,000 BTC by 2027, reinforcing Metaplanet’s strategic pivot to become a leading Bitcoin-focused asset manager.
The announcement met with a market reaction, resulting in Metaplanet’s stock price declining over 7%. This fundraising method, utilizing perpetual preferred shares, represents an innovative structure within Bitcoin corporate financing strategies.
CEO Simon Gerovich framed the move as pivotal for enhancing shareholder value and corporate liquidity, while cementing a long-term commitment to Bitcoin accumulation. He stated the strategy positions Metaplanet to capitalize on Bitcoin as a core treasury reserve asset.
Shareholders will vote on the proposal during an Extraordinary General Meeting scheduled for September 1.