Norges Bank Backs Metaplanet in Landmark Bitcoin Treasury Vote

Norges Bank Investment Management, recently endorsed Bitcoin treasury firm Metaplanet, backing all five of the company’s management proposals

The vote comes as Metaplanet prepares for its important general meeting scheduled for next week. The decision lifted market sentiment, helping the stock edge higher. It also strengthened Metaplanet’s standing as a leading corporate adopter of Bitcoin in Asia.

Norges Bank Backs Metaplanet’s Bitcoin Growth Plan

Norges Bank disclosed that it voted in favor of every proposal put forward by Metaplanet’s management. The proposals include a preferred shares offering and a capital reduction

It also involved internal accounting transfers to strengthen a Bitcoin-centered balance sheet. As the world’s largest sovereign wealth fund, Norges Bank’s support boosts Metaplanet’s global standing and credibility as a corporate Bitcoin adopter.

Earlier reports noted that CEO Simon Gerovich encouraged shareholders to actively participate in the upcoming vote. He emphasized that the proposals under consideration could shape Metaplanet’s future and define its role in corporate Bitcoin adoption. Norges Bank’s early and full support now adds momentum to that call.

Metaplanet Targets 100,000 BTC Holdings as Norges Bank Shows Support

Metaplanet wants to grow its Bitcoin holdings fast, with a long-term goal of 100,000 BTC. The approved plans give the company clear and transparent ways to fund this strategy.

Norges Bank’s vote shows trust in Metaplanet’s leadership and governance. The fund already owns 0.49% of Metaplanet, showing rising interest.

Norges Bank also holds a 1.05% stake worth about $1.1 billion in Strategy, the world’s largest corporate Bitcoin holder. Together, these stakes show a careful but growing exposure to Bitcoin-related companies.

With its large capital base, Norges Bank may raise its stake in Metaplanet over time. This could strengthen investor confidence and support wider corporate use of Bitcoin.

Stock Performance Shows Cautious Optimism

Metaplanet shares rose 1.51% on December 17, closing at 404 JPY, helped by a short-term recovery in Bitcoin prices. The stock traded between 398 JPY and 410 JPY during the session. Although volume remained well below the 42 million average.

In recent sessions, the stock jumped nearly 15% after its mNAV moved back above 1. However, it later gave up much of those gains as Bitcoin fell sharply to around $85,000. In the U.S. market, MTPLF shares closed 1.6% lower at $2.59 on Tuesday. The decline erased most recent gains as investors remained cautious ahead of the upcoming meeting.

Bitcoin is under short-term selling pressure and is trading near $86,700. In the past 24 hours, it moved between $86,159 and $88,170. Trading volume has dropped 17% as investors wait for signals ahead of a possible Bank of Japan rate hike.

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