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Metaplanet caps Series 10 option pool amid Bitcoin strategy, CEO exercises 92,000 rights adding 64M shares.

Market News
08 Sep 2026
Blockonomi
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Bearish
Metaplanet caps Series 10 option pool amid Bitcoin strategy, CEO exercises 92,000 rights adding 64M shares.

Metaplanet capped its Series 10 executive option pool at 319.5 million shares after removing an automatic adjustment that had increased dilution following its 2024 Bitcoin treasury pivot. CEO Simon Gerovich exercised 92,000 rights, creating 64 million new shares under a five-year lock-up, raising his direct ownership significantly. The company faced shareholder criticism over the option pool's growth alongside Bitcoin purchases, with some alleging 273 million shares were added post-Bitcoin pivot. Gerovich clarified his non-majority stake in MMXX Ventures, a major shareholder, and promised better communication but did not commit to canceling shares or disclosing full ownership details. Metaplanet shares fell nearly 6% amid these concerns despite expanding Bitcoin holdings to 43,000 BTC and new commitments to a Bitcoin treasury platform.

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