The vote signals a major shift in how the Bitcoin treasury firm plans to finance its next phase of growth.
Metaplanet’s Bitcoin strategy got another green light on Monday, and the market noticed.
Shares of the Japan-based Bitcoin treasury firm climbed more than 4% after shareholders approved all five proposals at the company’s Extraordinary General Meeting (EGM) on December 22. The vote reshaped how Metaplanet plans to raise capital and keep buying Bitcoin.
By the close of trading, the stock was up 4.16% at 451 JPY, with volume picking up as investors reacted to the outcome. Over the past month, Metaplanet shares are now up more than 26%, signaling renewed momentum after a steep drop earlier this year.
The outcome was shared by Dylan LeClair, Metaplanet’s director of Bitcoin strategy, who posted on X.
Among the approved measures was a shift of capital stock and reserves into capital surplus. The goal is to give the company more room to pay preferred dividends and potentially execute share buybacks. Shareholders also approved doubling the authorized number of preferred shares for both Class A and Class B.
CEO Simon Gerovich also confirmed the vote shortly after the meeting.
The EGM also locked in updates to Metaplanet’s preferred share structure.
Class A “MARS” shares were amended to offer monthly, floating-rate dividends, while Class B “MERCURY” shares now follow a quarterly dividend schedule with added investor protections.
Just as important, shareholders approved issuing Class B preferred shares to overseas institutional investors.
That move supports Metaplanet’s plan to raise funds without further diluting common shareholders – capital that is expected to support future Bitcoin purchases.
The EGM vote followed earlier backing from Norges Bank Investment Management, the world’s largest sovereign wealth fund, which had already signaled its support ahead of the meeting. The fund currently owns about 0.3% of Metaplanet.
According to Coingecko, Metaplanet now holds 30,823 BTC, worth over $2.7 billion, placing it fourth among public Bitcoin treasury companies globally.
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