Metaplanet Stock Soars 10% as Bitcoin Treasury Giant Unveils New Capital Strategy

Metaplanet, the fourth-largest Bitcoin treasury, announced a sweeping new capital allocation policy, share repurchase program, and a $500 million credit facility on Tuesday, sending its stock surging over 10%. The rally extended the company’s weekly gain to more than 25%, highlighting renewed investor confidence in the Tokyo-based Bitcoin-focused firm.

The board of directors approved the capital allocation strategy on October 28, aiming to maximize long-term shareholder value and corporate growth. The plan was introduced after Metaplanet’s enterprise value fell below its Bitcoin-adjusted metric known as mNAV, following a steep drop in BTC prices to the $102,000 range. The new strategy is built on three key principles: utilizing perpetual preferred shares to enhance Bitcoin yield, suspending common stock issuance when mNAV is below 1, and conducting share buybacks to boost BTC returns.

Funding for the share repurchases will come from cash reserves, preferred share issuances, credit facilities, and income from Bitcoin-related businesses. The company’s stock jumped to 519 JPY, with trading volume exceeding 75 million—well above the 49 million average—before a mild correction. Over the past week, Metaplanet’s stock has climbed 25%, recovering its year-to-date return to 53%.

CEO Simon Gerovich confirmed plans to repurchase up to 150 million shares by October 2026, emphasizing that the buyback will enhance capital efficiency and BTC yield. The approved $500 million credit facility will fund Bitcoin acquisitions, BTC income ventures, and share repurchases.

Currently, Metaplanet holds 30,823 BTC valued at nearly $3.5 billion, boasting a year-to-date yield of 496.4% and an unrealized profit of $281 million. With BTC trading near $113,850, the firm maintains its long-term goal of amassing 210,000 BTC by 2027, reinforcing its position as a major institutional force in the Bitcoin ecosystem.