Norway's Sovereign Wealth Fund Endorses Metaplanet's Bitcoin Strategy Ahead of December EGM
On December 17, 2025, it was reported that Norges Bank Investment Management (NBIM), one of the world’s largest sovereign wealth funds managing roughly $1.7 trillion in assets, has endorsed Metaplanet's bitcoin-focused strategy by voting in favor of all five proposals ahead of the extraordinary general meeting (EGM) scheduled for December 22, 2025.
NBIM, which holds about 0.3% of Metaplanet as of June 30, supported proposals that include reducing the company’s capital stock and reserves to allow for dividends, buybacks, or bitcoin purchases without altering the number of outstanding shares. Additionally, the proposals aim to increase authorized shares by introducing new classes of preferred shares to enable future capital raising focused on bitcoin accumulation.
The proposals detail perpetual preferred Class A shares (named MARS) featuring variable monthly dividends and seniority in the capital structure, along with perpetual preferred Class B shares (MERCURY) with fixed quarterly dividends, conversion rights, and cash redemption features. NBIM also approved Metaplanet’s plan to raise $150 million from third-party institutional investors and to issue MERCURY shares to fund the bitcoin purchases.
Metaplanet’s common shares have experienced an approximate 8% increase year-to-date and were trading around 400 yen (about $2.60) at the time of this endorsement, signaling market confidence ahead of the upcoming EGM.
