Metaplanet, one of the world’s largest corporate holders of Bitcoin, has announced a $500 million share buyback program as its stock continues to slide.The move follows a sharp drop in the company’s market capitalization-to-net asset value (mNAV) ratio — a key metric that compares a firm’s market value to the worth of its cryptocurrency portfolio.“We recognize that due to increasing market volatility and declining mNAV, our share price currently does not adequately reflect our intrinsic economic value,” the company said in an official statement.The buyback will be conducted on the Tokyo Stock Exchange, with a maximum volume of 150 million common shares, equivalent to 13.13% of all outstanding shares.To finance the program, Metaplanet’s board of directors approved a $500 million credit facility, which will remain active for one year.Falling Metrics and a High-Stakes StrategyThe mNAV — or Market-to-Net Asset Value ratio — is considered one of the most important indicators for digital asset treasury (DAT) firms like Metaplanet.It measures how the company’s market capitalization compares with the total value of its crypto reserves.In mid-October 2025, Metaplanet’s mNAV fell below 1.0, meaning the company’s market value dropped below the worth of its Bitcoin holdings — signaling that shares were trading at a discount. The buyback aims to reduce the number of shares outstanding, which could boost earnings per share and improve market perception.However, since the repurchase will be funded through borrowing, analysts warn it also introduces additional financial risk if market conditions worsen.Stock Reaction and Bitcoin AmbitionsMetaplanet’s stock hit its lowest level since early May on October 20, largely due to crypto market volatility. Since then, shares have rebounded, rising nearly 19% over five days following the buyback announcement.Metaplanet stock price on the Tokyo Stock Exchange, in yen. Source: TradingView.Despite the turbulence, the company reaffirmed its ambitious plan to purchase 210,000 BTC by the end of 2027, a goal that would cement its position as Asia’s largest corporate Bitcoin holder.By taking this aggressive step, Metaplanet appears determined to restore investor confidence and prove the sustainability of its Bitcoin-backed model — even as markets test the limits of digital-asset-based finance.Metaplanet, one of the world’s largest corporate holders of Bitcoin, has announced a $500 million share buyback program as its stock continues to slide.The move follows a sharp drop in the company’s market capitalization-to-net asset value (mNAV) ratio — a key metric that compares a firm’s market value to the worth of its cryptocurrency portfolio.“We recognize that due to increasing market volatility and declining mNAV, our share price currently does not adequately reflect our intrinsic economic value,” the company said in an official statement.The buyback will be conducted on the Tokyo Stock Exchange, with a maximum volume of 150 million common shares, equivalent to 13.13% of all outstanding shares.To finance the program, Metaplanet’s board of directors approved a $500 million credit facility, which will remain active for one year.Falling Metrics and a High-Stakes StrategyThe mNAV — or Market-to-Net Asset Value ratio — is considered one of the most important indicators for digital asset treasury (DAT) firms like Metaplanet.It measures how the company’s market capitalization compares with the total value of its crypto reserves.In mid-October 2025, Metaplanet’s mNAV fell below 1.0, meaning the company’s market value dropped below the worth of its Bitcoin holdings — signaling that shares were trading at a discount. The buyback aims to reduce the number of shares outstanding, which could boost earnings per share and improve market perception.However, since the repurchase will be funded through borrowing, analysts warn it also introduces additional financial risk if market conditions worsen.Stock Reaction and Bitcoin AmbitionsMetaplanet’s stock hit its lowest level since early May on October 20, largely due to crypto market volatility. Since then, shares have rebounded, rising nearly 19% over five days following the buyback announcement.Metaplanet stock price on the Tokyo Stock Exchange, in yen. Source: TradingView.Despite the turbulence, the company reaffirmed its ambitious plan to purchase 210,000 BTC by the end of 2027, a goal that would cement its position as Asia’s largest corporate Bitcoin holder.By taking this aggressive step, Metaplanet appears determined to restore investor confidence and prove the sustainability of its Bitcoin-backed model — even as markets test the limits of digital-asset-based finance.

Metaplanet Pours $500 Million Into Buyback as Shares Slide

2025/10/28 20:21
2 min di lettura
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Metaplanet, one of the world’s largest corporate holders of Bitcoin, has announced a $500 million share buyback program as its stock continues to slide.

The move follows a sharp drop in the company’s market capitalization-to-net asset value (mNAV) ratio — a key metric that compares a firm’s market value to the worth of its cryptocurrency portfolio.

The buyback will be conducted on the Tokyo Stock Exchange, with a maximum volume of 150 million common shares, equivalent to 13.13% of all outstanding shares.

To finance the program, Metaplanet’s board of directors approved a $500 million credit facility, which will remain active for one year.

Falling Metrics and a High-Stakes Strategy

The mNAV — or Market-to-Net Asset Value ratio — is considered one of the most important indicators for digital asset treasury (DAT) firms like Metaplanet.

It measures how the company’s market capitalization compares with the total value of its crypto reserves.

In mid-October 2025, Metaplanet’s mNAV fell below 1.0, meaning the company’s market value dropped below the worth of its Bitcoin holdings — signaling that shares were trading at a discount. The buyback aims to reduce the number of shares outstanding, which could boost earnings per share and improve market perception.

However, since the repurchase will be funded through borrowing, analysts warn it also introduces additional financial risk if market conditions worsen.

Stock Reaction and Bitcoin Ambitions

Metaplanet’s stock hit its lowest level since early May on October 20, largely due to crypto market volatility. Since then, shares have rebounded, rising nearly 19% over five days following the buyback announcement.

Metaplanet stock price on the Tokyo Stock Exchange, in yen. Source: TradingView.

Despite the turbulence, the company reaffirmed its ambitious plan to purchase 210,000 BTC by the end of 2027, a goal that would cement its position as Asia’s largest corporate Bitcoin holder.

By taking this aggressive step, Metaplanet appears determined to restore investor confidence and prove the sustainability of its Bitcoin-backed model — even as markets test the limits of digital-asset-based finance.

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