Metaplanet (MTPLF) has gone from a quiet Japanese hotel operator to one of the loudest names in global Bitcoin. On Friday, shareholders approved a huge new capital plan to issue 550 million shares, raising almost $900 million to buy more Bitcoin. Eric Trump, who has been an advisor since March, flew into Tokyo for the meeting. His presence gave the vote even more drama as Metaplanet keeps pushing to turn itself into Asia’s version of Strategy (MSTR).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Eric Trump Steps In to Support the Vote
Eric Trump attended the shareholder meeting in Tokyo, adding spectacle to an already unusual gathering. There were food trucks, costumes, and even a K-pop act planned for investors. The press was kept out, but insiders say the atmosphere was closer to a festival than a corporate vote.
The vote itself was no sideshow. Shareholders approved the plan to issue hundreds of millions of new shares. The goal is to funnel the money directly into Bitcoin, adding to Metaplanet’s already massive stash.
Metaplanet Keeps Growing Its Bitcoin Treasury
The company now holds more than 20,000 Bitcoin, worth over $2 billion. That makes it one of the biggest public holders in the world. Management is modeling the strategy on Strategy but with one key difference. Instead of relying heavily on debt, Metaplanet is using equity. That avoids the risk of being over-leveraged if Bitcoin takes a dive.
This shift is remarkable. Just a few years ago, Metaplanet’s main business was running hotels. Now it has reinvented itself as a pure Bitcoin play, and the capital plan suggests it’s only getting started.
Stock Reacts to the Move
Metaplanet shares have been one of the hottest tickets in Tokyo, climbing more than 580% over the past year. The news of share issuance knocked the stock down earlier this week, as dilution worried investors. But by Friday, the stock ticked up again, showing investors are still willing to bet on the Bitcoin vision.
The volatility shows the balancing act. Issuing that many new shares unsettles the market, but if Bitcoin keeps rising, the payoff could be much larger than the dilution risk.
Moreover, Eric Trump’s Tokyo trip comes at the same time his other project, American Bitcoin, prepares to list on Nasdaq. The Trump family is clearly building a global crypto footprint, from Asia to Wall Street.
