Metaplanet Stock Climbs on Bitcoin-Centric Allocation Plan
Metaplanet Inc. (3350.T) saw its stock rise by 2.06% to close at ¥297.00 after announcing a revised capital allocation strategy that keeps Bitcoin as its core asset. The company plans to allocate 85% to 90% of its total assets to Bitcoin, reinforcing its commitment to the cryptocurrency as a primary treasury reserve asset. As of September 30, Metaplanet held 44,000 BTC, up from 30,823 BTC in October 2025, reflecting continued accumulation through equity, bonds, and credit facilities.
The updated capital policy aims to limit dilution and leverage. Metaplanet will primarily use perpetual preferred stock and selected common stock issuance for Bitcoin purchases, avoiding common share issuance when its market net asset value (mNAV) falls below 1.0 times. The company also set a guideline to keep Bitcoin-related credit facility borrowings below 10% of BTC net asset value, viewing such financing as temporary rather than permanent.
Strategic investments will account for 10% to 15% of total assets, including acquisitions, income-producing securities, and capital for its asset management business. Project Nova, a key initiative, includes Metaplanet Securities and a planned investment in Nasdaq-listed Super League Enterprise, where Metaplanet intends to contribute 2,100 BTC and $2.5 million. The company also plans a Net Interest Income Strategy to generate recurring returns from income-producing assets, supporting future Bitcoin purchases.