Metaplanet Inc. took out a $100 million loan against its Bitcoin holdings and hoped to use the money to buy more Bitcoin and underpin its operations.
The Tokyo-listed company reportedly executed a loan in late October under its existing credit facility, signaling its commitment to continue with Bitcoin as its core asset.
more bitcoin
According to the report, the borrowing was completed on October 31 and represents approximately 3% of Metaplanet’s total Bitcoin holdings. The company currently holds approximately 30,823 BTC, worth $3.5 billion, up from $3.3 billion at the end of last month.
The identity of the lender has not yet been disclosed, but the loan will have a variable interest rate and an additional spread based on the US dollar benchmark.
Source: Fortune · Getty ImagesMetaplanet just received a $100 million loan from its credit facility.
This is equivalent to approximately 3% of Bitcoin’s value.
I think we are preparing for a potential share buyback of less than 1.0mNAV…
… Or they want to buy DIP!
— Adam Livingston (@AdamBLiv) November 5, 2025
Balance Sheet Planning and Repurchases
Metaplanet said the funds will be used to acquire more Bitcoin and support monetization strategies related to its holdings.
The company also has a 75 billion yen share repurchase plan, bringing the total amount to about $500 million. According to the report, management believes that borrowing against Bitcoin will allow the company to strengthen its position without having to sell off existing assets.
Bitcoin as a financial asset
Analysts say the move reflects a growing trend of companies treating Bitcoin as a treasury asset rather than a purely speculative investment, but this clearly carries risks.
If the price of Bitcoin plummets, the value of collateral may decrease, forcing the company to add more collateral or liquidate part of its position.
Although the $100 million figure is a small component of Bitcoin’s total value, critics say adding debt to its shaky balance sheet will cause financial stress.
The report also highlighted that Metaplanet’s market value has at times retreated below the value of its Bitcoin holdings, highlighting weak investor sentiment.
Nonetheless, the company continues to explore income-generating schemes, such as Bitcoin options trading, to generate revenue beyond price appreciation.
Image: FXLeaders
Deep trust in cryptocurrency
Market observers are now focused on how quickly the company uses borrowed funds to purchase additional cryptocurrencies and whether additional lending will follow.
Changes in the Bitcoin market price and potential guidance from Japanese regulators may also influence future decisions.
Now, this $100 million loan is a bold demonstration of Metaplanet’s deep belief in Bitcoin and perhaps serves as an example for other companies seeking cryptocurrency-backed financing.
Featured image from Unsplash, chart from TradingView
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