BTC News: Metaplanet Goes All-In on Bitcoin with $500M Credit Line

Metaplanet stock rises 10% after announcing a $500M credit facility, share buyback plan, and updated capital allocation policy.

Metaplanet, Asia’s largest Bitcoin treasury firm after MicroStrategy, saw its stock surge over 10. This was following the announcement of a new capital allocation policy and a major share repurchase program. 

The company also secured a $500 million credit facility to support its long-term Bitcoin strategy.

Company Unveils New Capital Allocation Policy

On October 28, Metaplanet’s board approved a capital allocation plan aimed at maximizing shareholder value and Bitcoin yield. 

The strategy includes limiting common share issuance when the market-adjusted net asset value (mNAV) falls below 1, using perpetual preferred shares for funding, and conducting share buybacks.

This decision follows recent market volatility, where Metaplanet’s enterprise value dropped below its Bitcoin holdings. During the decline in BTC prices to around $102,000, Metaplanet’s stock experienced heavy selling by institutional and retail investors.

Share Repurchase and Credit Facility Confirmed

The board also approved a share repurchase program, targeting up to 150 million shares by October 29, 2026. CEO Simon Gerovich confirmed that the buyback will be used to increase capital efficiency and support the company’s Bitcoin yield goals.

He added that the newly established $500 million credit facility allows the firm to act flexibly. The funds may be used for share buybacks, new Bitcoin acquisitions, or investments in Bitcoin income-generating businesses.

BTC Holdings and Market Performance Update

Metaplanet currently holds 30,823 BTC, valued at nearly $3.5 billion. Its Bitcoin portfolio has delivered a year-to-date yield of 496.4%. The firm’s current mNAV stands at 1.05, with an unrealized profit of approximately $281 million from BTC purchases.

Metaplanet stock traded as high as 541 JPY, with over 75 million shares exchanged, well above the average daily volume of 49 million. Over the past week, the stock has risen more than 25%, recovering to a 53% year-to-date gain after breaking past its descending trendline.

Long-Term Bitcoin Strategy Remains in Focus

Metaplanet has slowed Bitcoin purchases after meeting its 2025 target. Moreover, the company’s long-term goal remains to accumulate 210,000 BTC by 2027. The firm stated that future acquisitions will come from income, preferred share issuances, and credit access.

At the time of reporting, Bitcoin was trading at $113,850, down 1.5% over the past 24 hours. However, overall trading volume has increased by 15%, showing sustained market activity despite the price dip.

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