Metaplanet moves to the U.S. to issue preferred shares, aiming to access the same capital pool as Strategy and Strive, which could be accretive to common shareholders. Analyst Allard Peng explains this move, noting that Metaplanet was unable to issue preferreds in Japan and took over a U.S. company for this purpose. Peng also highlights that clarity is still needed regarding how Metaplanet will support its U.S. subsidiary.