Japan-based publicly traded company Metaplanet announced plans to issue Class A and Class B preferred shares as part of its Bitcoin (BTC) reserve strategy.
The company aims to use the funds raised through the capital increase, totaling up to 555 billion yen (approximately $3.8 billion), to purchase Bitcoin.
According to the announcement, Class A shares will be “senior and non-convertible,” while Class B shares will be “convertible,” and both classes will fall under the perpetual preferred share category. Metaplanet has also filed a registration application with the Japan Financial Services Agency (FSA) to facilitate the issuance of these shares.
The amendments to the company’s articles of association are scheduled to take effect on September 1, 2025. The details of the share issuance will be determined depending on market conditions.
Prior to this latest acquisition, the company held 0.081% of the total BTC supply. The company currently holds $1.93 billion worth of Bitcoin. With this plan, the company could potentially double its holdings.
*This is not investment advice.