Metaplanet and Strategy are putting Bitcoin plans behind share buybacks

Metaplanet bought nearly 74 million of its common shares on October 14 as it arranged a ¥52 billion convertible bond to repay Bitcoin backed borrowing and fund further repurchases. Strategy disclosed $192.4 million in STRC preferred share buybacks alongside a $21.5 million Bitcoin purchase this week. Both are Bitcoin treasury companies spending capital on their own securities, but the shares they buy, the claims they reduce and the future dilution they face are different. Metaplanet bought 73,981,400 common shares at ¥261 each on October 14 for about ¥19.31 billion.

Source: crypto.news