Metaplanet unlocks ¥8B for Bitcoin buys after bond repayment

• Early bond payoff frees up ¥8 billion for additional Bitcoin investments, reducing company leverage.
• Share buyback now 42% complete; Metaplanet’s Bitcoin portfolio still below cost basis.

On November 2, 2026 (UTC), Cryptopolitan reported that Metaplanet, Japan’s largest corporate Bitcoin holder, fully repaid its ¥8 billion zero-coupon 20th Series Ordinary Bonds ahead of schedule to boost its Bitcoin allocation. The bonds, originally due April 23, 2027, were held entirely by EVO FUND and settled in full using Metaplanet's cash reserves. This action immediately freed ¥8 billion, designated for future Bitcoin acquisitions.

Following this payoff, Metaplanet increased the capital designated for Bitcoin purchases to ¥33.4 billion, setting this sum as the ceiling for BTC allocations, though not yet converting the entire amount into Bitcoin. This decision marks a significant move in the company’s overall portfolio management and signal of commitment to Bitcoin exposure.

Alongside its Bitcoin-focused strategy, Metaplanet is executing an extensive share buyback program, with up to ¥60 billion or 200 million shares authorized for repurchase by October 2027. By November 2, the company had completed 42% of this goal, buying 96.4 million shares for about ¥25.3 billion. Most of these acquisitions occurred after October 13, peaking with a single-day buyback of ¥19.31 billion at ¥261 per share on October 14.

Funds from Metaplanet’s recently issued ¥52 billion zero-coupon convertible bond, maturing in 2031 at ¥339 per share, are strictly allocated to repay approximately ¥23.6 billion in existing Bitcoin-backed loans and support further buybacks with about ¥28.3 billion. CEO Simon Gerovich reaffirmed that these funds will not be used for further Bitcoin purchases, maintaining a clear separation between debt management and asset accumulation.

As of November 2, Metaplanet held 44,000 Bitcoin acquired at an average price of $99,000 per token. With the current market price at $78,000, the company’s BTC position remains underwater relative to its purchase price.

Market reactions were negative; MTPLF stock dropped nearly 10% on November 2, reportedly due to investor concerns about elevated balance sheet risks and unprofitable Bitcoin positions, according to Google Finance. Investors are also awaiting an update on Metaplanet’s prospective inclusion in MSCI’s global equity benchmarks, expected by November 11, 2026.

At 14:09 UTC on November 2, 2026, Bitcoin was trading at $77,866.83 with a 0.03% change in 24-hour trading volume, according to Market Survey research.