Metaplanet has introduced a new capital allocation strategy, aiming to invest 10% to 15% of its total assets into income-generating projects and mergers. The company plans to use the resulting net interest income to fund further Bitcoin acquisitions and dividend payments.
Bitcoin continues to serve as the firm's primary treasury asset, representing 85% to 90% of its total holdings. This policy shift is intended to improve the company's financing capacity and credit quality, ultimately increasing the amount of Bitcoin held per share.
The announcement follows recent scrutiny regarding the company's governance and capital structure. Metaplanet recently issued five corrected securities filings to clarify the voting rights of CEO Simon Gerovich in MMX Ventures, a shareholder in the company.
The company also addressed concerns regarding its executive stock option pool. Following criticism, Metaplanet reduced the Series 10 stock pool by 41% in September, cutting 131.3 million potential shares by resetting the conversion ratio to 1:410.
As of the latest market close in Tokyo, Metaplanet trades at 0.80x its Bitcoin net asset value. This indicates that investors are currently paying $0.80 for every $1.00 worth of Bitcoin held by the company.
