Metaplanet shareholders have approved a sweeping capital-raising plan that will allow the Japanese Bitcoin treasury company to sell up to 550 million new shares overseas. The offering, valued at about 130.3 billion yen ($884 million), is aimed at funding further Bitcoin purchases.
Capital Plan Approval and Governance Resolutions Strengthen Metaplanet’s Bitcoin Strategy
The extraordinary general meeting (EGM), held in Tokyo’s Shibuya district, confirmed the plan. However, the company’s CEO Simon Gerovich confirmed that the vote passed. The company intends to allocate the bulk of proceeds to expanding its Bitcoin holdings, which already stand at more than 20,000 BTC, worth over $2 billion.
The approved capital plan underscores Metaplanet’s strategy of following a treasury model inspired by Michael Saylor’s MicroStrategy. The firm has already transformed from a struggling hotel operator into one of the largest public corporate holders of Bitcoin.
The raise of close to $900 million puts the company in a position to accelerate its BTC accumulation. This supports a previous $881 million stock issuance plan by Metaplanet for the same purpose.
That move shows both shareholder support and management intent on making Bitcoin the company’s primary asset. Even with the stock price slipping more than half from its June peak, the approval signals long-term faith in the firm’s digital asset strategy.
Besides the capital plan, shareholders approved three governance and financing resolutions. The first was an increase in authorized shares. Stocks that the company could issue for future fundraising or acquisitions.
The second resolution approved virtual shareholder meetings for greater participation. The third resolution created perpetual preferred shares with no maturity date.
This gives shareholders regular dividends and strengthens Metaplanet’s funding options. These are a separate financing instrument, distinct from the $884 million raise.
Eric Trump Lends Star Power to Metaplanet’s Tokyo Meeting
Adding global attention to the meeting was the presence of Eric Trump, adviser to Metaplanet and son of U.S. President Donald Trump. According to a Reuters report, Trump took the stage alongside CEO Simon Gerovich in matching company jerseys, where he praised Gerovich’s leadership in Asia’s Bitcoin adoption.
Trump’s attendance came just days after appearing at the Bitcoin Asia conference in Hong Kong, where he voiced confidence that Bitcoin could reach $1 million in the coming years. His comments echoed the momentum of sovereign adoption, with the UAE ranking fourth among governments with the largest Bitcoin reserve. The involvement of Trump Jr. emphasizes the Trump family’s growing crypto empire, whose American Bitcoin is also preparing for a Nasdaq listing.
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Source: https://coingape.com/metaplanet-approve-884m-to-expand-bitcoin-treasury/
