Metaplanet received approval from shareholders to finance 55.5 billion yen, accelerating the competition for Bitcoin reserves.

According to the Wisdom Financial APP, Japan's bitcoin reserve company Metaplanet has obtained approval from shareholders for a financing proposal. After a significant drop in stock prices, the company will be able to raise up to 55.5 billion yen (approximately 380 million dollars) by issuing preferred shares to broaden its financing channels.