Metaplanet Shareholders Approve $884M Capital Plan to Expand Bitcoin Treasury
Metaplanet shareholders have approved an $884M capital plan aimed at expanding the company’s Bitcoin holdings.
The shareholders of Japan’s largest Bitcoin treasury firm, Metaplanet, have approved the sale of up to 550 million new shares worth $884 million (130.3 billion yen) to fund additional Bitcoin purchases.
Metaplanet Backs Bitcoin Growth Plan
Simon Gerovich, CEO of Metaplanet, announced that the shareholders approved the plan to raise capital through the sale of the company’s shares in an extraordinary meeting held in the Tokyo Shibuya district.
During the meeting, a vote was passed to use about $884 million of the raised capital to expand the firm’s Bitcoin holdings, which currently stand at 20,000 BTC valued at over $20 billion.
Although the stock price has fallen by more than half since June, shareholders and management remain committed to making Bitcoin the company’s main asset and show confidence in its digital asset approach.
In addition to the capital plan, the shareholders approved three other resolutions. The first one was the increment in the number of authorised shares, which the company could use for future fundraising.
The second resolution allows shareholders to hold meetings online for easier participation, and the last measure creates perpetual preferred shares with no maturity date, giving Metaplanet more funding options and letting shareholders receive regular dividends.
Eric Trump Highlights Metaplanet Bitcoin Strategy
Eric Trump, adviser to Metaplanet and son of U.S. President Donald Trump, joined Simon Gerovich at the extraordinary general meeting, praising his leadership in promoting Bitcoin in Asia while wearing matching Jerseys.
This comes days after he spoke at the Bitcoin Asia conference in Hong Kong, where he highlighted growing government adoption of Bitcoin, with the UAE ranked fourth among governments with the largest Bitcoin reserve, and said Bitcoin could reach $1 million in the future.
Eric Trump’s presence at these meetings, together with American Bitcoin’s plans to list on Nasdaq, shows the Trump family’s growing crypto empire.
About Author
About Author
