Asia’s largest Bitcoin treasury Metaplanet may consider share buybacks to boost BTC yield, CEO Simon Gerovich said on Tuesday. As part of its capital allocation policy, the company strongly considers repurchasing common shares to maximize BTC Yield when mNAV is below 1.0x.
Metaplanet CEO Spotlights Share Buybacks Strategy as mNAV Falls
In an X post on June 9, CEO Simon Gerovich emphasized that BTC Yield remains Metaplanet’s primary KPI. Also, the company’s capital allocation policy, established last year, is focused on maximizing BTC yield for shareholders.
Metaplanet identifies share buybacks as a key strategy to boost yield when mNAV dips below 1.0x. In the last 24 hours, mnav dropped to a low of 0.90 due to the recent Bitcoin price crash.
“When mNAV is below 1.0x we will strongly consider repurchasing common shares to maximize BTC Yield, and the lower the mNAV, the greater the potential accretion,” as per the capital allocation policy.
According to Metaplanet’s official Bitcoin Strategy Tracker, the company currently holds 40,177 BTC, with a Bitcoin NAV of almost $2.54 billion. Moreover, the enterprise value stands at roughly $2.35 billion, resulting in an mNAV of 0.92x.
Metaplanet CEO said any actual share buyback would comply with strict Japanese insider trading and disclosure rules, including monthly reporting requirements. Thus, the company can’t disclose specific timing, status, or implementation of any buyback before proper disclosure.
He cautioned that the statement “should not be interpreted as an indication that we are currently conducting, or will conduct, buybacks at any specific time.”
As Coingape reported earlier, Metaplanet launched share repurchase program of $500 million. The company also secured capital to expand Bitcoin holdings.
Stock Surges amid Advanced Dividend Announcement
Metaplanet stock (TYO: 3350) closed 2.95% higher at 244 JPY on Tuesday. The intraday low and high were 238 and 247 JPY, respectively. Trading volume was 15 million, significantly below the average of 28 million.
The stock has tumbled almost 30% in a month and 47% year-to-date (YTD) amid broader volatility in Bitcoin treasury companies.
However, the latest rebound comes in response to Metaplanet CEO Simon Gerovich’s comments and $5.4 million advanced capital allocation to pay dividends on its MERCURY perpetual preferred stock.
Metaplanet’s Board has resolved to declare in advance all FY2026 quarterly dividends on the Pre-IPO Class B 4.9% MERCURY Convertible Preferred stock, totaling ¥867.7m (~$5.4m), continuing to build its track record as a JPY denominated dividend-paying issuer. pic.twitter.com/80tII7Y1MU
— Dylan LeClair (@DylanLeClair) June 8, 2026
Notably, the firm currently sit at an unrealized loss of almost $1.64 billion on its Bitcoin holdings. The quarterly BTC yield has dropped to -0.40%.
Analysts and investors have closely watched mNAV as a valuation gauge for Bitcoin proxy stocks. The metric previously dipped below 1.0x in late 2025, prompting similar capital allocation discussions.
For people looking to buy the dip in the crypto market across both centralized and decentralized lending models, check out our Best Crypto Loan Platforms of 2026 recommendations list.
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