Metaplanet strengthens its Bitcoin-first strategy with a new loan of $130 million, fully secured by its BTC reserves. The funds will be used to increase Bitcoin acquisitions, expand BTC-based activities, and support buyback programs.
In Brief
- Metaplanet has executed a new loan of 130 million USD.
- The credit line has an overall limit of 500 million.
- Total already used: 230 million USD.
- Collateral: 30,823 BTC, valued at approximately 3.5 billion USD.
- Funds allocated to acquire new BTC, develop Bitcoin-based income activities, and repurchase shares.
Metaplanet strengthens the use of Bitcoin-backed credit line
Metaplanet Inc., a company listed on the TSE Standard market, has announced the execution of a new loan of $130 million as part of the $500 million credit line signed at the end of October 2025.
The transaction, dated November 21, 2025, is part of the company’s expansion strategy focused on using Bitcoin as a strategic balance sheet asset and as an operational leverage.
According to the official statement, the credit line allows the company to obtain liquidity by directly using its BTC as collateral. Metaplanet has now reached $230 million in total funds withdrawn.
Loan Conditions
- Rate: USD reference + spread
- Duration: automatically renewed on a daily basis
- Reimbursement: flexible, at the company’s discretion
- Collateral: entirely comprised of held Bitcoin
A distinctive feature is the maximum flexibility of repayment, which allows the company to dynamically manage exposure, leverage, and operational strategies without rigid time constraints.
A robust collateral: 30,823 BTC as a shield against volatility
Metaplanet highlights a key aspect: the extensive reserves in BTC – 30,823 Bitcoin, equivalent to approximately 3.5 billion dollars – provide a very high safety margin compared to the mere 230 million dollars currently utilized in the credit line.
This buffer is crucial in case of:
- strong BTC price volatility,
- recollateralization requests,
- potential market fluctuations during the exposure period.
The company emphasizes a conservative financial policy, which involves drawing funds only within limits that ensure broad coverage even in the event of significant Bitcoin corrections.
In other words, Metaplanet uses debt as leverage, but without approaching operational risk thresholds.
Objectives: More Bitcoin, More Revenue in Bitcoin, More Value for Shareholders
The new 130 million will be allocated to three key areas:
1. Purchase of Additional Bitcoin
The strategy confirms the “Bitcoin-first” approach, similar to the one that has characterized MicroStrategy over the years.
The loan allows for increasing the BTC position without liquidating corporate assets or diluting shareholders.
2. Expansion of Business Based on Bitcoin Revenue
A portion of the capital will be allocated to Bitcoin Income Generation activities, including:
- selling Bitcoin options to generate premiums,
- yield strategies based on BTC collateral,
- structured operations with controlled risk.
This model allows for the transformation of a non-productive asset into a source of recurring cash flow, while maintaining direct exposure to BTC.
3. Stock Buyback Programs
Metaplanet plans to repurchase its own shares when market conditions allow.
The buybacks could:
- increase shareholder value,
- reduce the stock’s volatility,
- consolidate the positioning as a Bitcoin-focused company.
Analysis: What Does This Operation Mean for the Market?
1. Metaplanet strengthens the narrative of “BTC as a treasury asset”
The adopted model is now clear: use BTC as collateral to expand the balance sheet, acquire more BTC, and generate cash flows denominated in Bitcoin.
An aggressive strategy, but sustainable if accompanied by ample collateral and prudent leverage management.
2. The trend of Bitcoin-native corporations is growing
With this operation, Metaplanet strengthens its position as one of the few public companies to adopt Bitcoin as a core asset on its balance sheet, alongside:
- MicroStrategy,
- some Asian financial holdings,
- mining companies.
Japan thus becomes one of the most dynamic centers for corporate adoption of BTC.
3. Bitcoin-Backed Debt: An Increasingly Popular Tool
The loan confirms the maturation of the BTC-collateralized lending market.
Structures like this:
- make capital accessible at competitive rates,
- allow companies to expand without selling BTC,
- introduce new dynamics in the relationship between traditional markets and crypto.
4. Limited Impact on 2025 Accounts
Metaplanet emphasizes that the operation will have a minimal impact on annual results, indicating that the loan will be managed in a balanced and gradual manner.
Conclusions
The new $130 million loan marks another significant step in Metaplanet’s Bitcoin-centric strategy.
With over 30,800 BTC held and a very wide collateral margin, the company continues to expand its exposure to the Bitcoin ecosystem, integrating leverage operations, income-generating activities, and potential stock buybacks.
This move solidifies Metaplanet as one of the most active corporations in the global adoption of Bitcoin, contributing to the market’s maturation and the growth of institutional interest in BTC as a strategic asset.
Source: https://en.cryptonomist.ch/2025/11/25/metaplanet-expands-its-bitcoin-strategy-new-130-million-loan-secured-in-btc/
