Metaplanet Temporarily Suspends Stock Rights to Optimize Capital Amid Bitcoin Expansion

Japan's Bitcoin-focused investment firm Metaplanet Inc. has announced the temporary suspension of the exercise of its 20th to 22nd series of stock acquisition rights, a move designed to give the company greater flexibility in managing capital as it continues to expand its Bitcoin holdings.

The decision, disclosed in a formal notice, affects rights issued via a third-party allotment to EVO Fund earlier this year. The suspension will run from October 10 to November 17, 2025, and includes a total of 1.85 million unexercised stock acquisition rights.

Strategic Pause, Not a Setback

Metaplanet emphasized that the action is not a retreat but a strategic pause --- allowing management to better time financing activities and minimize potential share dilution. President Simon Gerovich described the move as part of a broader effort to optimize treasury operations, strengthen long-term capital efficiency, and align with the firm's Bitcoin yield strategy.

"The decision reflects our focus on financial flexibility and value creation," Gerovich said, noting that managing issuance timing helps stabilize shareholder value while positioning the company to seize future market opportunities.

Strengthening Japan's Corporate Bitcoin Position

Metaplanet now holds 30,823 BTC, maintaining its status as Japan's largest publicly listed Bitcoin holder. The company's growing reserve forms a central part of its balance-sheet strategy, modeled after institutional players like certain major companies, which use Bitcoin as a long-term treasury asset.

The rights in question were established under a repurchase agreement with Evolution Japan Securities (EVO Fund), giving Metaplanet the freedom to suspend or resume conversions based on market conditions. This structure allows the firm to navigate Bitcoin's volatility and shifting investor sentiment without compromising capital integrity.

By fine-tuning its funding mechanisms, Metaplanet continues positioning itself as a key bridge between traditional finance and Bitcoin-based corporate strategy in Japan.