MetaPlanet CEO Unveils ‘MARS’ Strategy to Enhance Bitcoin Acquisition

MetaPlanet is launching a new capital structure to boost its Bitcoin acquisition strategy. This new initiative, named MARS (MetaPlanet Acquisition and Reserve Strategy), aims to support the company's growing Bitcoin treasury, as confirmed by CEO Simon Gerovich at a recent symposium.

Key Takeaways

MetaPlanet is set to introduce a new preferred share structure, MARS, modeled after Strategy's Bitcoin funding approach.
The Mars shares will offer non-dilutive Class A preferred stock with adjustable monthly dividends.
This structure mirrors Strategy's successful STRC shares, which have provided consistent returns.
The company is adapting to Japan's market conditions by utilizing Mercury Class B preferred shares and debt instruments backed by Bitcoin.

MetaPlanet CEO Reveals Strategy-Style ‘MARS’ Plan to Supercharge Bitcoin Buying — What to Know

Introduction of MARS: A Strategic Move for Bitcoin Acquisition

Tokyo-listed MetaPlanet is gearing up to launch a new preferred-share structure inspired by the widely followed Bitcoin funding vehicle from Strategy. The aim is to enhance its corporate Bitcoin treasury significantly. This plan was confirmed by MetaPlanet's CEO, Simon Gerovich, during the Bitcoin for Corporations Symposium, where he shared the stage with Strategy Chairman Michael Saylor.

Gerovich announced that shareholders will vote soon on implementing MARS, short for MetaPlanet Acquisition and Reserve Strategy. This initiative is designed to raise capital specifically for expanding Bitcoin holdings.

Overview of MARS Bitcoin-Backed Preferred Equity Structure

Earlier in November, MetaPlanet outlined the fundamentals of its MARS initiative when its board approved two classes of preferred equity, termed Mars and Mercury.

The Mars shares are classified as senior, non-dilutive Class A preferred stock. They rank above both Mercury shares and the company's common equity in the capital structure. Notably, they do not have conversion rights and provide holders with a priority claim on dividends and assets. The income generated will be directed towards accumulating more Bitcoin, as part of MetaPlanet’s long-term treasury strategy. Additionally, Mars shares will have adjustable monthly dividends aimed at providing consistent income while minimizing price volatility.

STRC Performance: Aiming for Similar Success

The MARS structure closely parallels Strategy’s STRC shares, which are variable-rate perpetual preferred shares introduced in July 2025. Currently, STRC trades around $98 and offers an annualized dividend of approximately 10.75%, with an effective yield nearly reaching 11%. This dividend is adjusted monthly to keep the stock trading around its target price of $100.

Strategy utilizes the proceeds from STRC and other preferred stock programs to facilitate Bitcoin purchases. Since its launch, STRC has delivered returns exceeding 10%, with lower volatility compared to both Strategy's common stock and Bitcoin itself. By late 2025, Strategy expanded its Bitcoin treasury to 650,000 BTC by acquiring significant amounts throughout the year, including over 21,000 BTC bought via STRC IPO proceeds.

Bitcoin Investment Insights

MetaPlanet's Adaptation to Market Dynamics

MetaPlanet is seeking to adopt Strategy’s funding approach to fit Japan’s market dynamics. The company has already launched Mercury Class B preferred shares, which offer quarterly fixed dividends with the potential for conversion into common stock. Recently, MetaPlanet approved the issuance of 23.61 million Mercury shares through a third-party allocation, raising about ¥21.25 billion (roughly $135 million). The conversion price was significantly above the company’s market price, minimizing immediate dilution.

In addition, MetaPlanet is leveraging debt secured by its Bitcoin assets. A recent announcement disclosed a $130 million loan fully backed by BTC under a previously established $500 million credit facility. Currently, MetaPlanet holds 30,823 BTC valued at approximately $2.7 billion, with an average acquisition cost of $108,070 per coin.

Market Dynamics

With Bitcoin trading below the average acquisition cost, the company faces unrealized losses of about $636 million. The timing of the MARS initiative arises amid a downturn in corporate Bitcoin treasury investments. Data from DefiLlama revealed that digital asset treasury inflows fell to $1.32 billion in November, marking the lowest monthly figure for 2025.

Treasury Inflows Drop

In November alone, shares of Strategy fell over 35%, while MetaPlanet's stock dropped by more than 20% as Bitcoin slid nearly 25% from its October peak.