Norway’s Sovereign Wealth Fund Backs Metaplanet’s Bitcoin Strategy
Norway's $1.7 trillion sovereign wealth fund manager voted to support all of Metaplanet's proposals endorsing its bitcoin treasury strategy.Summary
Norges Bank Investment Management (NBIM), which manages Norway's $1.7 trillion sovereign wealth fund, has voted in favor of all five management proposals at Metaplanet's upcoming Extraordinary General Meeting (EGM). This endorsement supports Metaplanet's strategy to accumulate bitcoin using its treasury. The proposals aim to expand capital flexibility and support non-dilutive bitcoin accumulation, including reducing capital stock to allow for bitcoin acquisitions without increasing common shares, and increasing authorized share counts, including new preferred share classes.
Key to the plan is the introduction of perpetual preferred shares (Class A/MARS and Class B/MERCURY) designed to attract long-term institutional capital while limiting dilution to common shareholders. Metaplanet, a Tokyo-listed firm positioning itself as a corporate bitcoin treasury vehicle, is seeking authorization to issue MERCURY shares to institutional investors as part of a planned $150 million allotment to fund further bitcoin purchases. As of last month, Metaplanet was the world's fourth-largest corporate holder of bitcoin with 30,823 BTC.
(Source：Bitcoin Magazine)