Metaplanet shifts ¥8B to Bitcoin buying after early bond payoff, as buyback reaches 42% of cap

Metaplanet (TYO: 3350) confirmed early cash repayment of its ¥8 billion in bonds on Monday, a move that frees a corresponding amount of money to fund the firm’s Bitcoin accumulation plans. The leading Japanese corporate Bitcoin holder has now reached 42% capacity on the ¥60 billion planned for share buybacks. Metaplanet frees funds for Bitcoin buying In its November 2, 2026 disclosure, Metaplanet told the Tokyo Stock Exchange that it used cash on hand to retire its entire 20th Series of Ordinary Bonds ahead of their April 23, 2027 maturity date.

The notes carried a principal of ¥8 billion, paid no interest, and were held by EVO FUND. Metaplanet paying off the debt early means that the Gerovich-led firm has freed up an equal amount of money that it can now use to purchase Bitcoin. Adding the ¥8 billion the firm freed up today to its ¥25.

4 billion planned Bitcoin purchase line takes the financing to ¥33. 4 billion. The overall total holds steady at ¥37.

1 billion, according to the filing. Notably, Metaplanet noted in a separate November 2 disclosure that it did not exercise anything from its 27th series rights in October, with 947,300 still outstanding. The larger Bitcoin allocation is a plan, not cash already deployed.

Share buyback program has reached 42% of its cap The stock repurchase program, greenlit by Metaplanet’s board on October 13, 2026, allows the firm to spend up to ¥60 billion on its own stock or buy up to 200 million shares through October 13, 2027. The firm had a fast start in October, per its latest disclosure, spending ¥25,269,031,500 on 96,447,400 shares between October 14 and 31. That comes up to about 42% of the approved capital.

Metaplanet shot out of the gates on October 14, spending about ¥19. 31 billion on 73. 98 million shares at ¥261 per unit.

Metaplanet’s debt management strategy Cryptopolitan reported that Metaplanet has been combining its buybacks and bond work as part of a wider deleveraging structure. CEO Simon Gerovich confirmed that the ¥52 billion that the firm is raising through zero-coupon convertible bonds with an October 29, 2031 maturity date will not be used to buy BTC. Rather, the funds will be used to repay Bitcoin-backed loans and fund stock buybacks.

Metaplanet is under pressure on the 44,000 BTC stash it built at an average cost basis of nearly $99,000 per token. Bitcoin trades closer to $78,000 as of November 2. Today’s ¥8 billion reallocation touches the stock-acquisition-rights pool, a separate bucket from the convertible bond proceeds.

In the meantime, Metaplanet will have one eye on MSCI’s November 11 list, which will confirm whether it will be removed from MSCI’s global equity benchmarks alongside Michael Saylor’s Strategy (NASDAQ: MSTR). Markets have not reacted very hot to the latest Metaplanet disclosures, with MTPLF stock down nearly 10% on the day, per Google Finance data. The smartest crypto minds already read our newsletter.

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