Metaplanet Buys Back 96.4M Shares to Boost Bitcoin Per Share

Metaplanet repurchased 96.4 million shares in just over two weeks, deploying about $160 million as the bitcoin treasury company shifts capital toward reducing its share count. The Tokyo-listed firm has already completed nearly half of its authorized buyback of shares while simultaneously freeing more capital for future bitcoin purchases. Metaplanet is showing that a bitcoin treasury strategy does not always mean buying more bitcoin. Between Oct. 14 and Oct. 31, the Japanese company repurchased 96,447,400 shares for about $160 million (¥25.27 billion) through Tokyo Stock Exchange purchases.