Metaplanet CEO Responds to Stock Price Decline: Will Consider Stock Buyback if mNAV Falls Below 1x, Short Selling and Replenishing Position with Newly Issued Shares Is Illegal

BlockBeats News, September 19th. Simon Gerovich, CEO of the Japanese Bitcoin Treasury Company Metaplanet, responded to the recent poor performance of the company's stock price on the X platform. He stated:

1. The disclosure of the Bitcoin purchase window from September to October was only because the company needed to define a regulatory window, but it is not a hard deadline for execution. The purchase of Bitcoin will prioritize speed while considering market impact and balancing three factors: maximizing BTC revenue, minimizing market impact on Bitcoin price, and optimizing Bitcoin revenue streams.

2. Short-selling stocks and using stock issuance to replenish is illegal. Every broker in Japan has explicitly stated this. The 30% drop in Metaplanet's stock price clearly was not planned or desired by the company, and it is not possible to publicly speculate on specific market activities.

3. A significant portion of the funds Metaplanet has engaged with come from institutional investors that are long-only.

4. If the mNAV drops below 1x, it will have a negative impact on Metaplanet's Bitcoin yield. At that time, solutions such as evaluating preferred stock issuance and potentially conducting stock buybacks will be considered. (Note: mNAV is the ratio of market value to net asset value)