Metaplanet’s $500M Bitcoin-Backed Buyback Spurs 25% Stock Gain
Metaplanet has launched a $500 million Bitcoin-backed share buyback program funded by a new credit facility. The company plans to repurchase up to 150 million shares—about 13% of its float—between October 2025 and October 2026. After the announcement, Metaplanet’s stock surged over 10%, driving weekly gains to 25% and lifting its share price to ¥499. The buyback is triggered when its market-adjusted net asset value (mNAV) falls below 1×, aiming to narrow the gap with Bitcoin’s intrinsic value and boost shareholder value. Share buyback underscores Metaplanet’s strategy to deploy Bitcoin reserves efficiently and enhance market liquidity. As of press time, mNAV has recovered to 1.03× from October lows, though it remains well below the 10.33× peak recorded in February. The credit facility also offers flexibility for further Bitcoin acquisitions or new income-generation initiatives. Analysts note that maintaining mNAV premiums above parity is critical to prevent dilution and support long-term capital efficiency.
Bullish
This news is bullish for Bitcoin trading as it highlights increased institutional demand and strategic use of Bitcoin reserves. Metaplanet’s $500M Bitcoin-backed share buyback and credit facility are likely to support Bitcoin prices by signaling strong confidence in BTC’s value and enhancing market liquidity. In the short term, the stock surge and mNAV recovery could attract more investor interest and drive BTC buying. Over the long term, the credit facility’s flexibility for further Bitcoin acquisitions and income-generating initiatives may underpin sustained demand. However, analysts note that maintaining mNAV premiums above parity is essential to prevent dilution, suggesting attention to valuation metrics.