Metaplanet Pushes Deeper Into Bitcoin Integration With Preferred Shares and Yield Curve Initiative
Metaplanet (3350), Japan’s largest publicly traded bitcoin holder, has rolled out two new initiatives to further embed bitcoin into the nation’s financial infrastructure, as it reported a strong rebound in quarterly earnings.
The Tokyo-based firm announced the launch of “Metaplanet Prefs,” a perpetual preferred equity product modeled after similar instruments used by MicroStrategy. The offering is designed to fund expansion of the firm’s bitcoin treasury, while providing investors access to BTC-backed assets.
In parallel, Metaplanet also plans to develop a bitcoin-backed yield curve — a move that would create a framework for pricing credit instruments collateralized by bitcoin in Japan’s fixed income markets.
“These instruments are aimed at aligning bitcoin with the broader Japanese credit environment, establishing BTC as a recognized form of collateral,” said Dylan LeClair, Head of Bitcoin Strategy at Metaplanet.
The firm reported ¥1.239 billion ($8.4 million) in second-quarter revenue, a 41% increase from the previous quarter. Net income came in at ¥11.1 billion ($75.1 million), a sharp turnaround from a ¥5 billion loss a year ago.
Metaplanet currently holds 18,113 BTC, valued at around $1.85 billion, making it the sixth-largest corporate holder of bitcoin globally. While the company’s stock remains down 50% from all-time highs, it has recovered 10% off recent lows.
The new financial instruments mark a major step in Metaplanet’s effort to bridge bitcoin with Japan’s traditional capital markets.
