Metaplanet Temporarily Stops Selling Shares to Expand BTC Holdings

Metaplanet (MTPLF), a Bitcoin-centric firm, has announced it will suspend the exercise of its 20th to 22nd series of stock acquisition rights, also called Moving Strike Warrants, from Oct. 20 to Nov. 17. The pause applies to warrants allotted through Evo Fund, effectively halting all remaining rights for a 20-trading-day period.

Strategic Move
The suspension temporarily stops the sale of common stock intended to fund additional Bitcoin purchases. Following months of share-price declines, Metaplanet’s stock now trades only slightly above the value of the Bitcoin on its balance sheet, making additional sales potentially dilutive to shareholders.

Metaplanet isn’t alone. Other corporate Bitcoin holders, including KindlyMD (NAKA) and Strive (ASST), have seen their shares drop 80% or more after SPAC mergers, despite Bitcoin’s strong performance this year.

Holding 30,823 BTC, Metaplanet ranks as the fourth-largest corporate Bitcoin holder globally. The company described the move as a strategic measure to manage capital amid evolving market conditions, maintain financial flexibility, and safeguard shareholder value. It also plans to continue developing new financial instruments and refining its capital policies.