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Metaplanet added 1,000 bitcoin net in the third quarter bringing holdings to 44,000 BTC
- On Monday, Metaplanet unveiled a revised capital allocation policy proposing to allocate up to 15% of total assets to strategic investments aimed at funding its Bitcoin accumulation.
- Following shareholder criticism, Metaplanet issued corrected filings on Friday clarifying that CEO Simon Gerovich does not hold majority voting rights in MMX Ventures, a company shareholder.
- Management reduced the Series 10 stock option pool by 41% in September to address dilution concerns, a move Gerovich said extinguished over $220 million in warrant value.
- Holdings reached 44,000 BTC valued at about $3.8 billion by quarter-end, though the company trades at a discount with an mNAV of $0.80 as of Monday.
- The firm introduced a net interest income strategy seeking returns above funding costs to support further Bitcoin purchases and build the leading Bitcoin financial company in Asia.
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CointelegraphReposted by 
The New York Ledger
The New York LedgerMetaplanet Reveals Net Income Strategy for Bitcoin Accumulation
Metaplanet revealed a revised capital allocation framework proposing to allocate as much as 15% of total assets to strategic investments to fund its Bitcoin accumulation.
·New York, United States
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Japanese Metaplanet sold 10,000 BTC in Q3 and then bought back 11,000 at a higher price...
Key points of the news: Metaplanet sold 10,000 BTC for ¥124.7 billion (+790 million) in the third quarter, only to repurchase 11,000 BTC shortly afterwards. The transaction sought to demonstrate to rating agencies and investors that their bitcoin cash can be converted into cash when necessary. The company closed September with 44,000 BTCs in ... Read more
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Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
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