Metaplanet Caps Bitcoin Borrowing at 10% NAV as Holdings Reach 44,000 BTC

Tokyo-listed investment firm Metaplanet has revised its capital allocation framework, capping debt financing for Bitcoin to 10% or less of its Bitcoin net asset value. The policy revision comes as the company revealed its corporate treasury reached 44,000 BTC as of September 30, following a third-quarter liquidity exercise that added a net 1,000 BTC. Under the updated framework, Metaplanet plans to allocate 85% to 90% of total assets to Bitcoin, relying primarily on perpetual preferred stock for future purchases. The remaining 10% to 15% will fund income-generating assets, mergers, acquisitions, and asset management initiatives.