# Bitcoin treasury companies turn to convertibles, preferred stock and buybacks as Metaplanet trades about 90% below its peak

Metaplanet will repay $151 million of bitcoin-backed loans and buy back up to 14.7% of its shares, while Strive offers a 15% fixed-dividend preferred stock to raise $500 million for more bitcoin.

- Published: 2026-10-14T05:36:59.411Z
- Canonical: https://polylog.news/crypto/2026-10-14/bitcoin-treasury-companies-turn-to-convertibles-preferred-st
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CryptoSlate](https://cryptoslate.com/metaplanet-unveils-380-million-share-buyback-after-stock-crashes-nearly-90-from-peak/), [CoinDesk](https://www.coindesk.com/markets/2026/10/13/strive-to-ipo-second-preferred-share-class-as-it-looks-to-further-build-bitcoin-treasury), [Bitcoin Magazine](https://bitcoinmagazine.com/news/strive-buys-more-bitcoin-to-hit-30000-btc), [CryptoSlate](https://cryptoslate.com/skyai-risks-sec-offer-failure-if-sol-falls-under-100/), [CoinDesk](https://www.coindesk.com/markets/2026/10/14/bitcoin-climbs-toward-usd84-000-after-fed-s-williams-sees-no-rate-hikes-in-2027), [Polylog editors](https://polylog.news), [Crypto Briefing](https://cryptobriefing.com/metaplanet-euro-yen-convertible-bond-buyback/)

Metaplanet, the Tokyo-listed company that holds bitcoin as its main treasury asset, plans to issue ¥52 billion (about $329 million) of zero-coupon euro-yen convertible bonds. The proceeds will refinance bitcoin-backed loans and fund share b…

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