Metaplanet to Issue Perpetual Preferred Shares in Bid to Boost Bitcoin Holdings

Core Insights - Metaplanet, a Tokyo-listed company, has launched a "Phase II" initiative to issue perpetual preferred shares aimed at raising capital for further Bitcoin acquisitions [1][2] - The company has set a target to accumulate 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027, having increased its holdings from 1,762 BTC to approximately 30,823 BTC this year, marking a nearly 17-fold increase [2][3] - The issuance of perpetual preferred shares is designed to minimize dilution of common stock while allowing for aggressive Bitcoin accumulation [1][4] Company Strategy - The "555 Million Plan" is part of Metaplanet's strategy to enhance its Bitcoin treasury, reflecting a broader trend among Japanese companies to adopt Bitcoin as a treasury asset for diversification [2][3] - The preferred shares will have a capped dividend yield of 6%, providing steady returns to investors while allowing any Bitcoin appreciation above this level to contribute to the company's enterprise value [4][5] - Metaplanet plans to expand its "Bitcoin.jp" platform to strengthen Japan's Bitcoin infrastructure through education, events, and services [5] Financial Performance - The Bitcoin Income Generation segment of Metaplanet reported a quarterly revenue growth of 115.7%, leading to an increase in FY2025 revenue guidance [7]