PANews reported on September 2 that according to Cointelegraph, shareholders of Metaplanet, a Japanese listed company, approved the increase of authorized shares and the formulation of preferred stock terms, with a maximum issuance amount of US$3.8 billion. The proceeds will be mainly used to acquire Bitcoin.

Earlier news broke that Metaplanet shareholders approved three resolutions at an extraordinary general meeting: increasing the total number of authorized shares, allowing for virtual general meetings, and establishing new terms for perpetual preferred stock. Metaplanet's president stated that the company plans to acquire a total of 210,000 bitcoins by 2027.