Japan-based Metaplanet has announced a share buyback program aimed at enhancing capital efficiency and boosting the value per Bitcoin when its market value falls below the net asset value. The company plans to repurchase 150 million shares, a move supported by a $500 million loan secured by Bitcoin.
Bitcoin Purchases to Be Financed via Loan
Headquartered in Tokyo, Metaplanet currently holds 30,823 BTC, valued at $3.5 billion. With the new loan agreement, the company aims to finance both the stock repurchases and additional Bitcoin investments. Management believes the market’s fluctuations do not reflect the company’s intrinsic value and describes the buyback program as a tool to correct this imbalance.
The program is valid until October 29, 2026, and involves repurchasing shares representing 13.13% of the total capital. Metaplanet has indicated that the buybacks could be accelerated if the market value falls below 1.0x the net asset coefficient. The allocated fund of approximately 75 billion yen ($495 million) can also be used for future strategic investments.
Metaplanet’s Long-Term Bitcoin Strategy
The company management aims to reach 210,000 BTC by the end of 2027. This goal could further strengthen Metaplanet’s position as the company with the largest Bitcoin holdings among publicly traded companies in Asia. The Bitcoin-backed credit structure maintains the flexibility of the balance sheet while making the strategy of accumulating Bitcoin sustainable.
Following Metaplanet’s announcement, the share price rose by 2% to 499 yen. Management emphasized that the credit facilities are not limited to stock purchases but also play a role in strategically increasing Bitcoin reserves. The company’s performance measurement using the “BTC Yield” metric strengthens its claim of setting a new industry standard in cryptocurrency management.