Metaplanet (MTPLF) Pauses Share Sales Amid Stock Pressure

Metaplanet has announced a suspension of stock acquisition rights, known as Moving Strike Warrants, for 20 trading days from October 20 to November 17. This decision comes as its share price has fallen 70% from its June highs, with a valuation of just 1.05 times net asset value (NAV), the lowest since the launch of its bitcoin strategy. By halting these sales, Metaplanet aims to manage capital formation and avoid diluting shareholder value. The company holds 30,823 BTC, making it the fourth largest corporate bitcoin holder globally. They stated the suspension is a strategic move to enhance financial flexibility as market conditions evolve. This pause reflects broader struggles among bitcoin treasury companies, as many have seen drastic declines in share prices despite the overall rise in bitcoin value throughout the year.

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