Metaplanet Announces $500 Million Credit-Funded Buyback Covering 13% of Outstanding Shares

Metaplanet Unveils $500M Bitcoin-Backed Share Buyback Covering 13% of Stock
October 28, 2025

Metaplanet (3350), Asia’s largest publicly listed Bitcoin (BTC) holder, has announced a 13% share repurchase program aimed at strengthening shareholder value and improving capital efficiency amid a volatile market environment.

The Tokyo-based company said it plans to buy back up to 150 million common shares, targeting periods when its market valuation falls below 1.0x net asset value (NAV) to maximize BTC yield — the amount of Bitcoin effectively represented per share.

To fund the initiative, Metaplanet has secured a $500 million credit facility collateralized by its Bitcoin holdings, which may be used not only for the buyback but also for further Bitcoin accumulation or other strategic investments. The program will run from October 29, 2025, to October 28, 2026.

Metaplanet currently holds 30,823 BTC, worth roughly $3.5 billion, underscoring its position as a major corporate player in the digital asset space. The company reaffirmed its ambitious plan to acquire 210,000 BTC by the end of 2027, while acknowledging that current market conditions have led to a disconnect between its share price and underlying asset value.

“In light of increased market volatility and a decline in our mNAV multiple, we believe our current valuation does not accurately reflect our intrinsic worth,” the firm said in a statement.

The repurchase plan represents 13.13% of outstanding shares (excluding treasury stock), with an estimated total value of ¥75 billion (about $495 million).

Following the announcement, Metaplanet’s stock rose 2% to 499 yen, as investors welcomed the company’s continued confidence in both its Bitcoin holdings and long-term strategy.

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