Metaplanet Board Approves Plan to Increase Bitcoin Holdings

According to DLNews, the board of directors of Japanese company Metaplanet has approved a plan to further purchase Bitcoin, aiming to hold 210,000 Bitcoins by the end of 2027. Dylan LeClair, the company's chief strategy officer, stated that a special shareholders' meeting approved several equity-related proposals to support the subsequent Bitcoin purchases. Metaplanet will expand the issuance size of its Class A and Class B shares, introduce a floating interest rate and quarterly dividend mechanism, and set a 130% issuer repurchase option and a sell option in the event of a failed IPO for Class B preferred shares. The board also approved the issuance of Class B shares to overseas institutional investors.