Metaplanet Increases Bitcoin Holdings to $2 Billion, Plans $3.7 Billion Stock Offering to Support Expansion
Main Idea
Metaplanet has increased its Bitcoin holdings to 17,595 BTC valued at $2.02 billion and plans a $3.73 billion stock offering to expand its Bitcoin acquisitions, aiming to hold 1% of Bitcoin's total supply by 2027.
Key Points
1. Metaplanet's Bitcoin holdings now total 17,595 BTC, representing 8.4% of its 210,000 BTC target by 2027.
2. The company launched a $3.73 billion perpetual preferred stock offering to fund its Bitcoin expansion strategy.
3. Metaplanet's approach mirrors strategies used by major industry players like MicroStrategy, which holds over 628,700 BTC.
4. CEO Simon Gerovich stated that the perpetual preferred stock offering is designed to maximize long-term shareholder value and may yield up to a 6% annual dividend.
5. Metaplanet plans to use Bitcoin as collateral to acquire cash-flowing assets and expand into other sectors.
Description
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