Bitcoin Firm Halts Equity Issuance to Fund BTC Purchases

Metaplanet (MTPLF), a Bitcoin-focused company, announced it will suspend the exercise of its 20th to 22nd series of stock acquisition rights, also known as Moving Strike Warrants, from Oct. 20 to Nov. 17. The pause, affecting warrants issued through Evo Fund, halts all remaining rights for a 20-trading-day period.

Why It Matters
The suspension temporarily stops the sale of common stock for additional Bitcoin purchases. With the company’s shares trading only slightly above the value of the Bitcoin on its balance sheet after a months-long decline, selling more stock could dilute shareholders.

Other corporate Bitcoin holders have faced similar pressure. Shares of KindlyMD (NAKA) and Strive (ASST) dropped 80% or more post-SPAC mergers despite Bitcoin’s strong performance.

Metaplanet holds 30,823 BTC, making it the fourth-largest corporate Bitcoin holder worldwide. The company described the move as a strategic measure to manage capital formation, maintain financial flexibility, and protect shareholder value, while continuing to develop new financial instruments and refine its capital policies.