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By James Van Straten|Edited by Parikshit Mishra
Aug 13, 2025, 10:57 a.m.
- New perpetual preferred equity instrument, “Metaplanet Prefs,” will fund BTC acquisitions and enable issuance of BTC-backed credit products.
- Company plans to develop a bitcoin-backed yield curve to price BTC-collateralized instruments for Japanese institutional investors.
Tokyo-based investment firm Metaplanet (3350) has unveiled two major strategic initiatives aimed at deepening its integration of bitcoin
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The announcements came as the company posted strong second-quarter results, with revenue climbing 41% quarter-over-quarter to 1.239 billion yen ($8.4 million) and net income swinging to a 11.1 billion yen ($75.1 million) profit from a 5.0 billion loss yen last year.
STORY CONTINUES BELOW
Metaplanet’s head of bitcoin strategy Dylan LeClair announced the launch of “Metaplanet Prefs,” a perpetual preferred equity instrument designed to scale the company’s bitcoin treasury operations similar to Strategy’s (MSTR) preferred equities.
As Japan’s largest publicly traded bitcoin holder, Metaplanet intends to set a new standard in the country’s fixed income market by introducing BTC-backed credit products through these preferred shares.
According to the Metaplanet, the preferred shares will allow for the issuance of BTC-backed instruments across a wide range of credit profiles and maturities. The goal is to align with and adapt to domestic fixed income demand, positioning bitcoin as a credible form of collateral in Japan’s capital markets.
The second initiative involves building a bitcoin-backed yield curve in the Japanese fixed income market. This would create a framework for pricing BTC-collateralized credit instruments, offering institutional investors a new way to gain exposure to Bitcoin while generating predictable yields.
As of mid-August, Metaplanet holds 18,113 BTC worth about $1.85 billion, making it the sixth largest corporate bitcoin holder in the world. Metaplanet shares are down about 50% from all-time highs, but remain 10% above recent lows.
Read more: Metaplanet Boosts Bitcoin Reserves With $61M Purchase
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
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By Shaurya Malwa|Edited by Parikshit Mishra
1 hour ago
Attackers exploited Odin’s liquidity pool by depositing a worthless token like SATOSHI alongside BTC, setting an inflated price ratio in the thin market.
What to know:
- Hackers exploited a vulnerability in Odin.fun’s liquidity system, stealing 58.2 BTC, valued at approximately $7 million.
- The attack involved manipulating token prices through artificial inflation and liquidity withdrawal, primarily linked to Chinese hacker groups.
- Odin.fun is working with law enforcement and exchanges to recover the funds and plans to compensate affected users after a security audit.
