Metaplanet CEO: mNAV below 1 times will prioritize buyback, "short selling first and then using new shares for replenishment" is illegal in Japan

ChainCatcher news, Metaplanet CEO Simon Gerovich stated on X that if the stock price falls below 1 times mNAV, continuing to issue new shares "mathematically destroys value," which would be detrimental to the company's BTC yield. The company will prioritize evaluating options such as preferred shares and stock buybacks; he also mentioned that Japanese brokers have clearly informed that short selling first and then using the allocation of new shares to cover is illegal. He emphasized that the Bitcoin procurement window in September and October is based on compliance arrangements rather than a rigid timetable, and the execution will balance speed, liquidity, and the impact on BTC prices, with the goal of maximizing BTC yield.