Shareholders of Metaplanet, the Japan-based hotelier-turned-Bitcoin treasury company, approved all the management’s proposals at an emergency meeting on Monday.
The gathering was attended by Metaplanet advisor Eric Trump, son of US President Donald, however media were not allowed in. Eric Trump and Metaplanet President Simon Gerovich, both wearing company-branded baseball jerseys, both took the stage, speaking together, social media indicates.
All proposals approved
The three approved proposals are:
- An increase in Authorized Shares to 2.723 billion total shares
- Enabling shareholders’ meetings without a fixed location – Metaplanet can now hold online shareholders meetings
- Establishment of Authorized Class Shares (Class A & Class B Shares)
In the originally publicly disclosed proposal, Metaplanet noted that the sale of 550 million new shares will raise approximately ¥130.3 billion (about $880 million USD), of which approximately 95% is allocated for purchasing new Bitcoin.
Number 6 treasury in the world
During the shareholders meeting, Metaplanet also announced the purchase of another 1,009 BTC, bringing the total amount in the treasury up to an even 20,000, the sixth ranked Bitcoin treasury globally and largest outside of the US. Metaplanet is the only non-US company in the top 10 of BTC treasury rankings, according to data from CoinMarketCap. Bullish, currently ranked fifth, holds 24,000 BTC.
The company has a goal of acquiring 210,000 BTC by the end of 2027.
