Bitcoin Updates: Vanguard’s $2.1 Million Investment Confirms Metaplanet’s Bitcoin Treasury Approach

Metaplanet Inc. (OTCQX: MTPLF) is on track to challenge a five-month peak after the

treasury-focused company unveiled a share repurchase initiative and attracted a notable investment from Vanguard Group’s Japan ETF. The Tokyo-listed enterprise, which maintains Bitcoin as part of its treasury, revealed a new Capital Allocation Policy on October 28, aiming to balance capital raising with active buybacks and targeted share issuances. This development comes as institutional appetite for Bitcoin treasury assets grows, with the Vanguard FTSE Japan ETF (VJPN) disclosing for the first time its ownership of 704,500 Metaplanet shares, worth about $2.1 million.

According to the updated policy, Metaplanet will give priority to buying back shares when its stock price falls below its estimated intrinsic value, utilizing available cash, proceeds from preferred shares, or credit lines. The firm also intends to issue perpetual preferred shares to finance additional Bitcoin acquisitions, aiming for a swift listing of these instruments to mitigate refinancing risks. Furthermore, Metaplanet will suspend issuing new common shares if its modified net asset value (mNAV)—which compares enterprise value to Bitcoin NAV—drops below 1x, a safeguard to avoid shareholder dilution. At the policy’s announcement, Metaplanet’s mNAV was 1.03x, just above the set limit.

The authorized buyback plan, which permits the company to repurchase up to 150 million shares, reflects growing market confidence in Bitcoin treasury strategies. Multiple reports on Vanguard’s investment highlight institutional endorsement of Metaplanet’s approach. The ETF’s acquisition of 704,500 shares illustrates a rising pattern among traditional asset managers to allocate funds to Bitcoin-related stocks, especially as the cryptocurrency’s price swings become less extreme.

Analysts point out that Metaplanet’s stock has dropped 74% in yen terms since its June 16 peak, potentially presenting an attractive entry point. The company’s recent decision to pause common-share dilution has further bolstered investor confidence. Technical analysis also indicates the stock is nearing oversold conditions, with its relative strength index (RSI) approaching key thresholds.

Metaplanet’s move toward a more disciplined approach to capital management aligns with broader trends in the sector. Rivals such as Evernorth Holdings, which is backed by Ripple, are also establishing

treasuries, highlighting a shift toward diversified institutional crypto holdings. Nonetheless, Metaplanet’s emphasis on Bitcoin—currently trading close to $70,000—positions it to capitalize on sustained demand for the leading digital currency.

Shares of the company ended 2.2% higher in Tokyo on October 28, reflecting positive sentiment around its revised policy. With Bitcoin’s price showing stability and institutional participation on the rise, Metaplanet’s buyback program and Vanguard’s stake could spark a recovery in its share value. Investors are expected to monitor upcoming mNAV figures and Bitcoin price trends to assess the success of the firm’s capital allocation efforts.