Metaplanet Inc., a Bitcoin treasury firm listed in Tokyo, has announced a share repurchase program worth 75 billion Japanese yen (approximately $500 million) to enhance Bitcoin yield per share and restore investor confidence, as its stock trades below its Bitcoin asset value. The board approved the buyback of up to 150 million common shares, which is 13.13% of its total shares, set to occur from Wednesday until October 28, 2026, on the Tokyo Stock Exchange. To facilitate this, Metaplanet established a Bitcoin-collateralized credit line with a $500 million borrowing capacity for share repurchases or further Bitcoin acquisitions. The company's market-based net asset value (mNAV) recently fell to 0.88 but has since recovered to 1.03. Metaplanet currently holds 30,823 BTC, valued at $3.5 billion, and aims to acquire 210,000 BTC by 2027. Other firms, like ETHZilla, are also engaging in buybacks due to similar market conditions. Read more AI-generated news on: https://app.chaingpt.org/news

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