Norway’s $2T Fund Backs Metaplanet – What’s the Crypto Conspiracy?

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In a twist that would make even the most seasoned of dragons blush, Norway’s $2 trillion sovereign wealth fund has taken a leap into the digital unknown 🐉💰. Norges Bank Investment Management (NBIM), the financial equivalent of a very serious librarian, has just endorsed Metaplanet’s Bitcoin-centric treasury strategy. Because nothing says “I’m serious” like investing in a digital currency that’s basically a fancy version of a paper clip.

Metaplanet, the Tokyo-based firm that’s basically the crypto version of a superhero, has won over Norway’s $2T fund with a series of proposals that sound like they were written by a group of very serious hedgehogs. Unanimous support? More like unanimous confusion. 🤷‍♂️

By voting “Yes” on every proposal, NBIM isn’t just a passive observer now. In fact, it is endorsing the Bitcoin [BTC] Treasury Model as a legitimate corporate strategy. Because who needs a business plan when you can just buy more crypto? 🚀

Details of the Proposal

For context, the five proposals that got voted in include a list of major structural changes designed to strengthen Metaplanet’s capital base and accelerate its long-term Bitcoin accumulation strategy. It’s like a spreadsheet with a side of chaos. 📊💥

First of all, Metaplanet will reduce its capital stock and reserves, freeing up surplus funds that it can use for dividends, share buybacks, or additional Bitcoin purchases. This, without altering the number of shares in circulation. Because why have a normal company when you can have a financial circus? 🎪

Next, the company will expand its pool of authorized shares and introduce new preferred share classes, giving it more flexibility to raise capital in the future. Because nothing says “I’m ready for the future” like a new set of financial jargon. 💼

The new preferred classes form the core of this strategy. Class A shares (MARS) are like the senior security of the universe, offering variable dividends, while Class B shares (MERCURY) are the capital engine, promising fixed returns and Bitcoin-linked upside. It’s like a spaceship with a coffee machine and a time machine. 🚀☕

Metaplanet will also deploy $150 million by issuing MERCURY shares to institutional investors. And now, it has explicit approval to use the proceeds from these issuances to buy more Bitcoin. Because why not? 🧠💸

Is Michael Saylor Playing a Role Here?

For its part, Norges Bank is already deeply invested in the Bitcoin treasury model through Strategy, where it now holds roughly 1.05% – A position worth over $1.1 billion by late 2025. Norges Bank is like the financial equivalent of a very expensive hobby. 🎯

Their quiet but growing stake in Metaplanet, from 0.3% in June to about 0.49% now, suggests they are “index-weighting” Bitcoin treasuries globally. By backing Strategy in the U.S and Metaplanet in Asia, Norges Bank is signaling its conviction that Bitcoin-backed equities represent a new investable asset class. Because nothing says “I’m modern” like a cryptocurrency. 📈

Metaplanet’s BTC Buying Pause

However, beneath these green candles lies a strategic pivot. Metaplanet has notably paused its Bitcoin acquisitions since 29 September, a silence that many attribute to its Market-to-Net Asset Value (mNAV) falling below 1x. Thus, the upcoming 22 December Extraordinary General Meeting will be a defining moment for Metaplanet. Because who needs a clear plan when you can just hope for the best? 🤞

Though the firm’s commitment to scaling from 30,000 to 100,000 BTC by 2026 now carries a shadow of uncertainty, its balance sheet remains remarkably resilient. Like a phoenix, but with more spreadsheets. 🦅

Final Thoughts

  • Metaplanet’s proposals show it is building long-term, institutional-grade infrastructure to accumulate Bitcoin beyond market cycles. Because who needs stability when you can have a rollercoaster with a safety harness made of glitter?
  • Metaplanet has shown that the Bitcoin Standard can evolve, even inside a listed Asian corporation. Because nothing says “I’m progressive” like a corporate boardroom full of crypto enthusiasts. 🏢

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2025-12-18 07:46