Metaplanet Lifts Bitcoin (BTC) Purchase Budget to 33.4 Billion Yen

25.3 Billion Yen of Stock Bought Back

Metaplanet raised the funds it allots to buying Bitcoin (BTC) by 8 billion yen, taking the total to about 33.4 billion yen, in a disclosure the company issued on November 2. The same announcement confirmed a share buyback of roughly 25.3 billion yen executed between October 14 and 31. The extra 8 billion yen had been set aside for repaying bonds; because those bonds were settled in full with cash the company already held, the repayment line fell away and the money moved to coin purchases. The substitution matters for the treasury's trajectory: clearing the bonds removes fixed repayment obligations from the balance sheet while keeping buying capacity intact. All told, the budget for buying the asset rises from about 25.4 billion yen to 33.4 billion yen, with spending scheduled across a window from April 2026 to April 2028. The buyback sits under a 60 billion yen ceiling set on October 13, of which about 40 percent had been executed by the end of October; the November tally includes a roughly 19.3 billion yen tranche carried out on October 14. A repurchase of this kind shrinks the share count excluding treasury shares, which lifts the proportional stake of every holder who stays put, a standard shareholder-return device that returns value without any dividend payment. Bitcoin price trades near $77,800 at the time of writing, essentially flat over the past 24 hours, on a market cap of about $1.57 trillion, leaving the new budget positioned against a market that has cooled since October.

The money behind the enlarged budget comes from capital raised through the exercise of share subscription rights, instruments that convert into new shares on set terms. The original plan directed those proceeds at bond repayment; once the 8 billion yen of bonds were cleared from cash on hand, the company revised the use of proceeds, dropping the repayment item and enlarging the purchase item in its place. The full program still totals 37.135 billion yen, and only its composition moved: the Bitcoin (BTC) purchase line climbs from 25.422 billion yen to 33.422 billion yen, while an allocation of 3.714 billion yen for a Bitcoin income business is left untouched. The end date also shifts by a year, from April 2027 to April 2028, giving the treasury a longer runway to deploy the enlarged budget. Unlike an ETF, which holds coins inside a fund structure, a corporate treasury of this kind accumulates directly on its own balance sheet. Buyers operating at this scale sit in the class market watchers describe as crypto whales, participants whose standing orders are large enough to register against aggregate flow. The buyback running alongside adds a second layer: between October 14 and 31 the company retired about 25.3 billion yen of its own equity under the 60 billion yen authorization set on October 13, leaving most of that ceiling unspent. For shareholders who keep their stakes, the repurchase raises their proportional claim on future results. Read together, the moves describe a company shrinking its share count in the same weeks it enlarges a long-term hodl position, with coin purchases scheduled to continue into 2028.

A Buying Window Into Weakness

The enlarged budget lands in a market still trending lower: the composite trend reading is bearish, and the price sits just beneath the $78,005 level, which carries a score of 97 out of 100, after a second straight October loss. Below, $75,046, scored 89 out of 100, is the strongest line of support in current Bitcoin technical analysis. Positioning looks unhurried rather than crowded: a long/short account ratio of 2.28 leans long, while a funding rate of 0.0050% leaves leverage close to neutral. A reclaim of $78,005 would strengthen the case that the market has held near $78,000 into the new buying window; losing $75,046 would stress it. For Metaplanet itself, the shift marks a change of kind: a treasury now funded from cash on hand rather than debt, buying on its own schedule into a defensive tape.