Tokyo-listed Metaplanet Inc. has drawn a $100 million loan from its existing credit facility, according to company filings dated November 4, 2025. The borrowing was executed on October 31, 2025, with the lender undisclosed, and is backed by Metaplanet's Bitcoin reserves as collateral. The loan carries a floating interest rate tied to the U.S. benchmark rate plus a spread and is repayable at any time at the company's discretion.
As of October 31, Metaplanet held 30,823 BTC, valued at approximately $3.3 billion (or 540 billion yen), providing more than adequate coverage for the loan, which represents only about 3% of its total Bitcoin holdings. The company emphasized its conservative financial management policy, ensuring collateral adequacy even in severe market downturns.
Market observers speculate that the funds could be used for opportunistic Bitcoin purchases amid the current market correction, where Bitcoin recently slipped below $100,000. Alternatively, the capital might support strategic share buybacks, given Metaplanet's trading valuation near sub-1.0 mNAV (market capitalization below net Bitcoin asset value). This move aligns with the firm's long-standing approach to enhance shareholder value and expand digital asset exposure.
Metaplanet, often compared to MicroStrategy for its Bitcoin-focused treasury strategy, aims to accumulate 210,000 BTC by the end of 2027. The loan is part of a broader $500 million credit facility announced on October 28, with no expiration date, offering financial flexibility. The company also plans to allocate part of the funds to its income-generating business, which involves selling cash-secured Bitcoin options. This segment is projected to generate 2.44 billion yen in sales for Q3 2025, a 3.5x increase from the previous year, helping offset losses during price dips.
Additionally, Metaplanet hinted at potential share buybacks, supported by a recently approved 75 billion yen buyback limit, to improve shareholder value. With Bitcoin trading around $101,689 and Metaplanet shares at approximately ¥441, the firm reinforces its position as one of Asia's most aggressive corporate Bitcoin accumulators, bridging traditional finance and digital assets.
XRP
ETH
SOL