Metaplanet CEO: If mNAV falls below 1x, buybacks will be prioritized; "short selling first and then covering with newly allotted shares" is illegal in Japan.

ChainCatcher news, Metaplanet CEO Simon Gerovich stated on X that if the stock price falls below 1x mNAV, continuing to issue new shares would be "mathematically value-destructive" and 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 securities firms have clearly informed them that short selling first and then covering with newly allotted shares constitutes illegal behavior. He further emphasized that the Bitcoin purchasing window in September and October is due to compliance arrangements rather than a rigid timetable. In execution, the company will balance speed, liquidity, and the impact on BTC price, with the goal of maximizing BTC returns.