Shares of Japanese investment firm Metaplanet advanced on the Tokyo Stock Exchange following the announcement of a significant expansion to its corporate Bitcoin strategy. The stock closed at 406 Yen on Monday, marking a gain of 3.31 percent. This movement came as CEO Simon Gerovich unveiled a comprehensive new capital plan designed to fuel further cryptocurrency acquisition.
Strategic Blueprint Mirrors Industry Leader
The centerpiece of the announcement is the “Metaplanet Acquisition and Reserve Strategy” (MARS). Introduced at the Bitcoin for Corporations Symposium, the initiative draws explicit inspiration from the model pioneered by MicroStrategy. Its primary mechanism involves issuing Class A preferred shares. These financial instruments are structured to provide investors with adjustable monthly dividends while simultaneously creating a dedicated and steady capital stream for purchasing Bitcoin. This approach is intended to insulate the company’s long-term accumulation goals from short-term market volatility.
Key Strategic Metrics:
- Bitcoin Holdings: 30,823 BTC
- Treasury Value: Approximately $2.8 billion (at a BTC price of ~$91,000)
- Share Price: 406 JPY
- New Capital Raised (Mercury): 21.25 billion Yen (~$135 million)
Dual-Track Financing Fuels Expansion
Operating in parallel to the MARS program, Metaplanet has executed additional funding measures. The company has issued Class B preferred shares under the “Mercury” designation, raising 21.25 billion Yen, equivalent to roughly $135 million. These shares carry a fixed dividend yield of 4.9 percent and are convertible into common stock.
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Concurrently, Metaplanet has streamlined its equity rights structure to accommodate the new frameworks. The company acquired and cancelled its Series 20 through 22 Stock Acquisition Rights. In their place, new rights from Series 23 and 24 were issued to the EVO FUND. This restructuring, which incurred a cost of 38.85 million Yen, is designed to create a clearer capital pathway for the MARS and Mercury initiatives.
Positioned as a Regional Pioneer
During the symposium, MicroStrategy Executive Chairman Michael Saylor remarked that Metaplanet has established a “twelve-month head start” in the Asian corporate Bitcoin adoption landscape. The strategic parallels between the two firms are clear, with both utilizing innovative capital structures to aggressively grow their Bitcoin reserves.
Despite the growing treasury, Metaplanet’s shares continue to trade at a discount to their Net Asset Value (NAV). Company leadership believes the new preferred share structures are precisely the tool needed to close this valuation gap. Revised financial forecasts for the fiscal year project revenues of 6.8 billion Yen and an operating profit of 4.7 billion Yen, with the Bitcoin treasury strategy cited as the primary driver.
Market observers will now watch to see if the dual-class capital approach successfully narrows the NAV discount and enables Metaplanet to meet its ambitious accumulation targets in the coming weeks.
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