Metaplanet Revises Capital Allocation Policy, Plans to Allocate Up to 90% of Assets to BTC

According to official sources, Japanese publicly listed company Metaplanet has announced further revisions to its capital allocation policy. Following the revision, Bitcoin will account for approximately 85% to 90% of total assets as a general principle, with an additional strategic investment allocation of approximately 10% to 15% of total assets. This strategic allocation will cover acquisitions of financial platforms, income-generating assets, and investments in asset management businesses. In principle, funding for this strategic investment allocation will be provided through non-dilutive financing for common shareholders via BitBonds, loans, Bitcoin-collateralized credit financing, and perpetual preferred shares, managed separately under ALM (Asset-Liability Management). It will not be subject to the guideline that Bitcoin-related borrowings remain below approximately 10% of BTC NAV (Net Asset Value). Credit financing borrowings used for acquiring and holding Bitcoin will still be controlled below approximately 10% of BTC NAV, with permanent equity capital remaining the primary source of acquisition funding.