Metaplanet shareholders approve increasing Bitcoin treasury to 210,000 BTC by 2027

Source: Yellow Original Title: Metaplanet Shareholders Approve Expanding Bitcoin Treasury to 210,000 BTC by 2027

Original Link: Japanese Bitcoin treasury company Metaplanet received unanimous approval from shareholders for five capital restructuring proposals at an extraordinary general meeting on December 22.

The Tokyo-listed firm currently holds 30,823 BTC.

It aims to accumulate 210,000 BTC by the end of 2027, representing approximately one percent of the total Bitcoin supply.

Metaplanet’s shares closed up 4.16% at 451 yen after the vote.

What happened

Shareholders approved converting share capital and reserves into capital surplus.

This increases the capacity for preferred stock dividends and potential share buybacks under Japanese corporate regulations.

The board restructured Class A preferred shares under the MARS (Metaplanet Adjustable Rate Security) framework with monthly floating dividends.

Class B preferred shares now offer quarterly dividends.

They include an issuer call option at 10 years at 130% of the issuance price and sell rights allowing investors to force buybacks if an IPO does not occur within one year.

The board also authorized issuing Class B shares to foreign institutional investors.

This follows the company’s December 19 launch of a Level I sponsored ADR program trading under the ticker MPJPY on U.S. over-the-counter markets.

CEO Simon Gerovich confirmed that all agenda items were approved with broad margins.

Why it matters

The restructuring provides financing mechanisms to expand Bitcoin holdings without immediate dilution of common shares.

Preferred shares offer rare fixed-income features among Bitcoin treasury companies.

Current holdings of 30,823 BTC place Metaplanet among the seven largest public corporate Bitcoin holders worldwide.

Approval allows access to Japanese household savings of 7.5 trillion yen, where internal yields remain near 0.5%.

Metaplanet presents preferred shares as Bitcoin-backed fixed income for investors seeking alternatives to traditional low-yield products.

The company limits preferred share issuance to 25% of net assets in Bitcoin as protection against price declines.