Metaplanet shareholders approve a plan to raise up to $3.8 billion to purchase more Bitcoin

ChainCatcher news, according to Cointelegraph, shareholders of the Japanese listed company Metaplanet have approved an increase in authorized shares and established terms for preferred shares, with a maximum issuance amount of $3.8 billion, primarily to be used for acquiring Bitcoin.

Previously, Metaplanet shareholders approved three resolutions at an extraordinary general meeting: increasing the total number of authorized shares, allowing the convening of a virtual general meeting, and establishing new terms for permanent preferred shares. The president of Metaplanet stated that the company plans to accumulate 210,000 Bitcoins by 2027.