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Metaplanet Prefs

Metaplanet had previously set an ambitious goal of acquiring 210,000 BTC, roughly 1% of Bitcoin’s total supply, by 2027.

The firm stated that this planned acquisition WOULD require around $20 billion in funding, which it intends to raise through preferred and common share offerings.

As a result, the Bitcoin-focused firm plans to launch Metaplanet Prefs, a perpetual preferred equity program backed by the top crypto.

With Japan’s household wealth estimated at $14.9 trillion, including $7.6 trillion in cash deposits and $9.5 trillion in the fixed income market, the company sees a significant opportunity to channel dormant capital into yield-bearing Bitcoin assets.

So, its Metaplanet Prefs initiative aims to issue BTC-backed instruments across various credits and maturities, targeting Japan’s fixed-income market.

In its earnings presentation, the company emphasized that this strategy represents the next stage of its mission to transform Japan’s capital markets digitally.

It added:

“The digital transformation of capital rivals that of communications and commerce. We believe this $100+ trillion opportunity positions Metaplanet to lead in the Japanese capital markets.”

It also highlighted that it would leverage its strong balance sheet and credit profile to deliver innovative, yield-focused products.

Notably, this model is reminiscent of Strategy’s (formerly MicroStrategy) preferred shares program, which funds its Bitcoin purchases.