The defendant, who had no previous history of mental ill health, had returned from Ibiza two days before, and had a history of taking drugs, the Old Bailey had heard.
He had previous convictions for possession of cocaine and cannabis and possession with intent to supply a psychoactive substance, cocaine, ketamine and MDMA.
Adejuwon Oyekan, 32, repeatedly stabbed Jason Thompson, 54, at his home, on July 11 2023.
Oyekan, who has paranoid schizophrenia, had been due to go on trial on March 31 for the murder of Mr Thompson.
Police received a call to a disturbance in the early hours of the morning, with a report that the defendant had “lost his mind” and had a knife.