Metaplanet Unveils Preferred Shares and Bitcoin-Backed Yield Curve Initiatives
Tokyo-based investment firm Metaplanet has announced two strategic initiatives to enhance its bitcoin (BTC) integration.
- Second-quarter revenue increased 41% quarter-over-quarter to 1.239 billion yen ($8.4 million).
- Net income turned positive at 11.1 billion yen ($75.1 million), compared to a loss of 5.0 billion yen last year.
- Launch of “Metaplanet Prefs,” a perpetual preferred equity instrument aimed at scaling bitcoin treasury operations.
- Intention to introduce BTC-backed credit products, setting a standard in Japan's fixed income market.
- Preferred shares will facilitate the issuance of BTC-backed instruments across various credit profiles and maturities.
- Creation of a bitcoin-backed yield curve for pricing BTC-collateralized credit instruments, targeting institutional investors.
- As of mid-August, Metaplanet holds 18,113 BTC valued at approximately $1.85 billion, making it the sixth largest corporate bitcoin holder globally.
- Metaplanet shares have decreased by 50% from all-time highs but remain 10% above recent lows.