Metaplanet Draws $100 Million Bitcoin-Backed Loan to Buy More Bitcoin

Bitcoin Magazine

Metaplanet Draws $100 Million Bitcoin-Backed Loan to Buy More Bitcoin

Tokyo-listed Bitcoin treasury firm Metaplanet has tapped a $100 million Bitcoin-backed loan to fuel further bitcoin accumulation, expand its income business, and potentially repurchase shares amid mounting market volatility.

The borrowing, executed on October 31 and disclosed today, November 4, marks the first drawdown from Metaplanet’s $500 million credit facility announced in late October. 

The funds will primarily go toward additional Bitcoin acquisitions, according to the company.

Metaplanet’s loan is collateralized by its 30,823 BTC — worth roughly $3.5 billion — and represents just 3% of its total holdings, underscoring what management called a conservative financial policy, according to CoinPost.

The agreement features no fixed maturity date and allows repayment at any time, giving the company broad flexibility. The lender remains undisclosed but reportedly offered flexible daily renewal terms and a variable rate tied to U.S. benchmarks.

Metaplanet is expanding Bitcoin income and buybacks

Metaplanet said proceeds from the loan will also be allocated to its growing Bitcoin income business, which generates yield through cash-secured options writing. The strategy allows the company to earn premiums while holding BTC long term — a structure designed to offset volatility.

That business segment has grown rapidly: in Q3 2025, it produced ¥24.4 billion ($160 million) in revenue, a 3.5× increase year-over-year, according to filings.

A portion of the funds may also support Metaplanet’s ¥75 billion share repurchase program, authorized in late October. The company plans to buy back shares whenever its market value falls below the value of its Bitcoin holdings — a threshold it breached last month when its modified net asset value ratio slipped to 0.99×.

Japan’s Bitcoin treasury giant

Since pivoting from IT services earlier this year, Metaplanet has become Japan’s largest corporate Bitcoin holder and now ranks fourth globally, trailing only MicroStrategy, Marathon Digital, and Hut 8 Mining.

The Tokyo-listed firm has committed to an ambitious goal of holding 210,000 BTC by the end of 2027, cementing its role as Asia’s most aggressive institutional Bitcoin accumulator.

Its treasury strategy mirrors that of Strategy, which continues to issue debt and equity to expand its Bitcoin position — now exceeding 641,000 BTC.

Metalanet partners with SBI VC Trade for custody and trading operations and maintains what it calls “sufficient collateral coverage” to withstand major price declines without risking liquidation.

As of press time, Bitcoin was trading near $102,600, down roughly 1% on the day.

This post Metaplanet Draws $100 Million Bitcoin-Backed Loan to Buy More Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.