Here’s the latest verified update on Metaplanet and its Bitcoin-focused capital strategy:
🧾 Shareholder Approval & New Funding Tools
Metaplanet’s shareholders approved all five proposals at an Extraordinary General Meeting (EGM) on December 22, 2025, giving the company the green light to restructure its capital framework to support further Bitcoin accumulation. �
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📈 What Was Approved
Key outcomes from the vote:
Expansion of preferred share authorization — both Class A and Class B shares were expanded to 555 million each, doubling previous capacity. �
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New dividend structures:
Class A (MARS) — monthly, floating-rate dividend model designed to help keep prices near par and appeal to institutional income investors. �
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Class B (Mercury) — quarterly dividends (~4.9% annual yield) with a 10-year call provision and put rights for investors if an IPO doesn’t occur within a year. �
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Approval to reclassify capital stock and reserves to capital surplus, increasing room for dividend payments and potential share buybacks. �
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Authorization to issue preferred shares to overseas institutional investors, widening access to international capital. �
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💰 Purpose: Fund Bitcoin Treasury Growth
The preferred share framework is specifically designed to raise non-dilutive capital to fund future Bitcoin buys, without issuing new common stock. Metaplanet already holds around 30,823 BTC (≈ $2.7 billion) — ranking it as one of the largest corporate Bitcoin holders globally and the biggest in Asia. �
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🌍 Market Reaction & Institutional Support
Metaplanet’s stock jumped roughly 4–5% in Tokyo trading following the approvals, reflecting investor optimism in its Bitcoin-oriented capital plan. �
Stocktwits
Institutional backing — including support from Norges Bank Investment Management (Norway’s sovereign wealth fund) — helped ensure broad shareholder approval. �
Ad-Hoc News
📊 Why This Matters
Institutional Access: By packaging Bitcoin exposure through dividend-paying preferred shares, Metaplanet makes its Bitcoin treasury strategy more attractive to traditional investors seeking regulated, income-generating products. �
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Capital Efficiency: Preferred equity offers a non-dilutive funding source compared with typical common share issuance, preserving ownership for existing shareholders while raising capital for Bitcoin purchases. �
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Strategic Growth: This move aligns Metaplanet closer to corporate Bitcoin treasury models seen elsewhere (e.g., Strategy Inc.), using equity markets to continuously ramp up BTC holdings. �
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If you want, I can also break down how the MARS and Mercury share structures work in plain language and what they might mean for investors.
