Metaplanet Took Over U.S. Company to Issue Preferred Shares

Metaplanet, a Bitcoin (BTC) treasury firm, took over a U.S. company to issue preferred shares after it could not make the securities work in Japan, shifting its preferred-stock issuance effort to the U.S. market.

The move could give Metaplanet access to the pool of capital that Strategy and Strive are competing for. He also discussed how the plan could benefit common shareholders and what needs more clarity about how Metaplanet supports its U.S. subsidiary.

Peng's discussion covered how a preferred share trading above par can add to net Bitcoin per share. Strategy's STRC preferred stock was one of the biggest IPOs of 2025, a U.S. market example in the discussion of Bitcoin treasury financing.