After months of strong short pressure and clear undervaluation, the company is now presenting a flexible capital strategy that will make future short attacks much more difficult.
The management of $3350 (-10.5%) has learned from the past:
Instead of relying solely on equity issues (the classic ATM model), Metaplanet now relies on a three-stage "Bitcoin Flywheel" that can adapt to any market situation:
🟢 mNAV > 1.0: Issue new shares → buy more Bitcoin
🔴 mNAV < 1.0: Share buybacks via a USD 500 million BTC-backed credit line
⚪ Neutral / future phase: Development of non-dilutive financing instruments (e.g. preferred shares) to increase revenues from Bitcoin and other business areas
This dynamic system enables Metaplanet, counter-cyclical buy when the market is weak, issue new shares when it is strong, and never have to sell Bitcoin. never having to sell Bitcoin.
Short sellers, who used to benefit from predictable dilution, now face a capital structure based on asymmetry, flexibility and bitcoin is designed.
