Metaplanet plans to raise $3.7 billion to promote a large-scale Bitcoin purchasing initiative.

[Metaplanet plans to raise $3.7 billion to promote large-scale Bitcoin purchasing program] Japanese investment company Metaplanet has applied to raise $3.7 billion through preferred stock to fund Bitcoin purchases, aiming to reach a target of 210,000 BTC by 2027. The proposed issuance of shares represents 75% of its current market capitalization and requires shareholder approval by September 1. Metaplanet stated that there are currently no specific plans for issuing preferred stock and it is uncertain whether such issuance will occur.