Metaplanet Secures $135 Million in Preferred Shares for Bitcoin Expansion

Tokyo-listed Metaplanet approved a $135 million perpetual preferred share offering on November 20 to fund Bitcoin acquisitions. The Class B shares carry a 4.9% annual dividend and a ¥1,000 conversion price. Strategy founder Michael Saylor stated his firm can withstand an 80%–90% Bitcoin drawdown while maintaining 1.15 times leverage with 4.5-year debt maturity.