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Metaplanet added 1,000 bitcoin net in the third quarter bringing holdings to 44,000 BTC
On Monday, Metaplanet unveiled a revised capital allocation policy proposing to allocate up to 15% of total assets to strategic investments aimed at funding its Bitcoin accumulation.
Following shareholder criticism, Metaplanet issued corrected filings on Friday clarifying that CEO Simon Gerovich does not hold majority voting rights in MMX Ventures, a company shareholder.
Management reduced the Series 10 stock option pool by 41% in September to address dilution concerns, a move Gerovich said extinguished over $220 million in warrant value.
Holdings reached 44,000 BTC valued at about $3.8 billion by quarter-end, though the company trades at a discount with an mNAV of $0.80 as of Monday.
The firm introduced a net interest income strategy seeking returns above funding costs to support further Bitcoin purchases and build the leading Bitcoin financial company in Asia.