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Norway’s Sovereign Wealth Fund Backs All Proposals from Bitcoin Treasury Firm Metaplanet

Norway’s Sovereign Wealth Fund Backs All Proposals from Bitcoin Treasury Firm Metaplanet

Norway’s Norges Bank Investment Management, managing $1.7 trillion in assets, supports Metaplanet's perpetual preferred share introduction and capital flexibility plan to expand non‑dilutive Bitcoin accumulation.

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Fact Check
The assessment of 'likely_true' with high confidence is based on a convergence of evidence from the most relevant sources, with no conflicting information provided. The primary supporting evidence comes from a highly relevant German financial news article which, according to its summary, "directly connects Norway's Sovereign Wealth Fund (managed by Norges Bank Investment Management) with Metaplanet Inc. and mentions the context of voting rights notifications." This source establishes a direct link between the two entities in the specific context of shareholder voting, which is the core of the claim.This is corroborated by two other sources. One article confirms that Metaplanet held a shareholder meeting with a vote specifically concerning the company's Bitcoin strategy. Another relevant source indicates that Norway's sovereign wealth fund has been increasing its indirect Bitcoin exposure. When synthesized, this evidence paints a cohesive picture: Metaplanet, a company focused on a Bitcoin strategy, held a shareholder vote on that strategy. Norway's Sovereign Wealth Fund, which has a stated interest in increasing Bitcoin exposure, is directly linked to this vote. The logical inference is that the fund would vote in favor of proposals that align with its own investment strategy. The absence of any contradictory evidence further strengthens this conclusion. While the sources do not explicitly state that the fund voted 'in favor of all' proposals, the combined weight of direct and circumstantial evidence makes this outcome highly probable.
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Summary

Norway’s Norges Bank Investment Management (NBIM), one of the world’s largest sovereign wealth funds, has endorsed all five management proposals from Metaplanet ahead of its Dec. 22, 2025 Extraordinary General Meeting, reinforcing the company’s Bitcoin treasury strategy. Holding about 0.3% of Metaplanet as of June 30, NBIM backed measures including capital stock reduction, authorized share increases, and the creation of perpetual preferred Class A (MARS) and Class B (MERCURY) shares. The approved proposals allow capital flexibility for dividends, buybacks, and Bitcoin purchases, with MERCURY shares intended for institutional investors to finance further Bitcoin acquisition. Metaplanet shares have risen about 8% in 2025, trading slightly above 400 yen ($2.60).

Terms & Concepts
  • Sovereign wealth fund: A state-owned investment fund that manages national reserves, often derived from surplus revenues.
  • Bitcoin treasury: A corporate strategy involving holding Bitcoin as part of a company's balance sheet reserves.
  • Perpetual preferred shares: A type of preferred stock with no maturity date that provides dividends indefinitely and holds priority over common shares in the capital structure.