Metaplanet buys back 12.25 million shares for $18.76 million to lift Bitcoin per share

Metaplanet repurchased 12.25 million of its own shares for $18.76 million, a move the company frames as a way to increase Bitcoin exposure per share. The buyback underscores the tension between supporting share value and preserving financial flexibility as market pressures mount. Metaplanet, which has modeled itself on Strategy's Bitcoin treasury approach, is using capital markets tools to boost the per-share Bitcoin metric that investors track. The repurchase reduces shares outstanding, mechanically raising the amount of BTC backing each remaining share. What to watch next is whether Metaplanet continues funding buybacks alongside its Bitcoin accumulation, and how the strategy performs if share prices diverge further from net asset value.