Bitcoin News Today: "Metaplanet’s Shareholder Vote Unlocks $3.7B Bitcoin Push Amid Stock Slump"

Metaplanet Inc., the Japanese firm known for its aggressive Bitcoin accumulation strategy, has secured shareholder approval for a significant capital-raising initiative aimed at expanding its Bitcoin treasury. At an extraordinary general meeting, shareholders backed a proposal to increase the company’s authorized share capital and introduce a dual-class preferred stock structure. This move is intended to facilitate up to ¥555 billion (approximately $3.7 billion) in fundraising, which would support Metaplanet’s goal of acquiring 210,000 Bitcoin (BTC) by 2027. The approval of the new capital structure was seen as a major step toward maintaining the company’s trajectory in the Bitcoin market and addressing liquidity concerns tied to its declining stock price.

The company’s new share classes are designed to appeal to a broader range of investors. Class A shares will offer fixed dividends, appealing to income-oriented investors, while Class B shares come with conversion rights into common stock, providing upside potential if the company’s Bitcoin strategy proves successful. This dual-class structure is described by Metaplanet as a “defensive mechanism,” aimed at preventing excessive dilution of common shareholders’ stakes while providing a flexible funding avenue. The move reflects a strategic effort to sustain Metaplanet’s Bitcoin purchasing power amid ongoing stock price volatility.

In recent developments, Metaplanet announced the acquisition of 1,009 BTC for approximately $112 million, bringing its total holdings to 20,000 BTC. This places the company as the sixth-largest public Bitcoin treasury, according to industry data. The recent purchase was made at an average price of $102,607 per Bitcoin, resulting in a 6.75% profit compared to the current Bitcoin price. Despite this, the company faces a significant challenge in converting its fundraising goals into actual capital, as investor participation will be crucial to reaching the $3.7 billion target.

The company’s stock price has declined by 54% since mid-June, according to Google Finance data, undermining the effectiveness of its previous “flywheel” financing model. This model relied on rising stock prices to encourage warrant exercises by key investors such as Evo Fund, which in turn generated capital for Bitcoin purchases. However, with the share price significantly lower, the mechanism has slowed, reducing the amount of capital available for further Bitcoin acquisitions. In response, Metaplanet announced plans to raise approximately $880 million through a public share offering in overseas markets. This initiative is part of a broader effort to adapt to the evolving market environment and maintain its Bitcoin accumulation pace.

Analysts have noted that Metaplanet’s strategy highlights the fragility of corporate Bitcoin treasuries when tied to equity performance. The divergence between Bitcoin’s price and the company’s stock illustrates the risks of integrating leverage, warrants, and financial instruments into a Bitcoin-based investment model. Despite these challenges, the company’s leadership remains committed to its long-term vision. CEO Simon Gerovich, who has received public support from high-profile figures such as Eric Trump, continues to push for Metaplanet’s role as a pioneer in digital asset-based credit in Japan.

Source: [1] Metaplanet clears path for $3.7B Bitcoin accumulation (https://cointelegraph.com/news/metaplanet-shareholder-approval-bitcoin-funding-3-7b-raise) [2] Metaplanet Buys 1009 BTC, Reaches 20000 BTC (https://cointelegraph.com/news/metaplanet-20000-btc-treasury-share-price-slump) [3] Metaplanet Shareholders Vote on $884M Capital Raising (https://finance.yahoo.com/news/metaplanet-shareholders-vote-884m-capital-134621873.html) [4] Metaplanet's Bitcoin Strategy Is Facing Major Financing Test (https://www.mitrade.com/insights/news/live-news/article-3-1086445-20250902)