Quick Breakdown:
- Metaplanet wins shareholder approval to revamp capital structure for Bitcoin funding.
- Dual-class stock system paves way for $3.7B in potential fundraising.
- The company expands Bitcoin holdings to 20,000 BTC, securing its spot as Japan’s top treasury.
Metaplanet, the Japanese firm positioning itself as a major Bitcoin treasury, has won shareholder approval to overhaul its capital structure, setting the stage for potential fundraising worth billions of dollars. The move comes as the company doubles down on its aggressive Bitcoin acquisition strategy despite recent stock market pressure.
Dual-Class Shares to Attract Investors
At a general meeting on Monday, shareholders approved amendments to Metaplanet’s articles of incorporation to expand authorized shares to 2.7 billion. The plan introduces a dual-class preferred stock system designed to appeal to different investor profiles while maintaining control for existing shareholders.
Class A shares will carry fixed dividends, offering steady returns for income-focused investors. Class B shares, considered higher risk, include a conversion option into common stock, providing upside exposure if Metaplanet’s Bitcoin bet pays off. Management described the dual structure as a “defensive mechanism” to protect against excessive dilution of existing shareholders while unlocking up to 555 billion yen ($3.7 billion) in potential funding.
✅ Proposal 1: Increase in Authorized Shares (to 2,723,000,000 shares)
✅ Proposal 2: Shareholders’ Meetings Without a Fixed Location (Virtual-only meetings enabled)
✅ Proposal 3: Establishment of Authorized Class Shares (Class A & Class B Shares) pic.twitter.com/eUjs26aL5k— Metaplanet Inc. (@Metaplanet_JP) September 2, 2025
Expanding Bitcoin Treasury Amid Price Pressure
The fundraising plans coincide with Metaplanet’s recent purchases of 1,009 BTC, bringing its total holdings to 20,000 BTC valued at 16.47 billion yen (about $112 million). The company disclosed last week the issuance of 11.5 million new shares following warrant exercises by investors.
Despite the expansion of its Bitcoin reserves, Metaplanet’s stock has struggled. Shares closed Tuesday at $5.74, a 54% drop from their June peak of $12.75, according to Google Finance data.
Metaplanet is now the sixth-largest Bitcoin-holding company worldwide and Japan’s largest, according to BitcoinTreasuries.net. The firm has accumulated its holdings at an average price of $102,607 per Bitcoin, giving it a 6.75% unrealized gain at current market levels. By securing a flexible capital structure, Metaplanet is betting that new financing channels will accelerate its rise as Japan’s premier corporate Bitcoin stacker.
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