• Earlier this week, Norway’s Norges Bank Investment Management backed all five of Metaplanet’s bitcoin-focused capital restructuring proposals ahead of the December 22 Extraordinary General Meeting, including plans for share buybacks, dividends, and new preferred share issuance to raise US$150 million from institutional investors.

• This support from one of the world’s largest sovereign wealth funds highlights growing institutional interest in Metaplanet’s bitcoin accumulation model and its unconventional balance sheet plans.

• Next, we’ll examine how Norges Bank’s endorsement and Metaplanet’s push to expand bitcoin holdings could influence the company’s investment narrative.

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To own Metaplanet today, you really have to buy into its evolution from a traditional hospitality name into a vehicle that leans heavily on bitcoin income and balance sheet exposure. The big short term catalyst is whether management can convert the October guidance upgrade into sustained profitability while managing sharp bitcoin price swings and a still-volatile share price. Norges Bank’s backing of the December 22 proposals adds credibility to the company’s capital restructuring and preferred share plans, and it could ease concerns about funding the targeted US$150,000,000 raise without relying solely on dilutive issuances. At the same time, the scale of recent and planned equity and preferred issuance keeps capital structure risk front and center, even with the large buyback authorization in place.

However, investors also need to weigh one particular source of dilution risk that is easy to overlook. Metaplanet’s share price has been on the slide but might be dropping deeper into value territory. Find out whether it’s a bargain at this price.

Six Simply Wall St Community fair value views range from just ¥2.47 to ¥1,927.50, underlining how far apart private investors are on Metaplanet. Set against the company’s bitcoin-centric strategy and fresh sovereign wealth fund support, that spread leaves plenty of room for different interpretations of how its balance sheet experiment might shape future performance.

Explore 6 other fair value estimates on Metaplanet – why the stock might be worth over 4x more than the current price!

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