Metaplanet Moves to U.S. to Issue Preferreds, Analyst Explains Strategy

Key facts

• Metaplanet aims to access the same capital pool as Strategy and Strive.
• STRC was a significant IPO in 2025, involving preferred stock.
• Clarity is needed on Metaplanet's support for its U.S. subsidiary.

Metaplanet has established a U.S. subsidiary to issue preferred stock, seeking to tap into a capital market similar to those accessed by Strategy and Strive. Analyst Allard Peng discussed the implications of this move, including the potential benefits for Metaplanet's common shareholders and the need for further clarity on the parent company's support for its U.S. operations. The strategy aims to compete for investment in a market where preferred stock offerings have seen significant activity.