Metaplanet Leverages $100 Million Bitcoin-Backed Loan to Expand Treasury Amid Market Dip

Tokyo-based firm uses BTC collateral to fund new acquisitions, yield strategies, and potential share buybacks

TL;DR

• Metaplanet secured a $100 million loan backed by its bitcoin holdings, representing only about 3% of its total BTC assets.
• The company plans to use the funds to buy more bitcoin, expand its yield-generation business, and consider share buybacks.
• Metaplanet now holds over 30,800 BTC, valued around $3.3 billion, and targets 210,000 BTC by 2027—roughly 1% of bitcoin’s total supply.

Metaplanet Inc., a Tokyo-listed investment company often dubbed “Asia’s Strategy,” has borrowed $100 million against its growing bitcoin reserves to finance further accumulation and business expansion. The move, announced October 31, 2025, comes as bitcoin traded between $99,000 and $103,000 on major exchanges—an opportunity the firm described as “buying the dip.”

The company currently holds 30,823 BTC valued at roughly $3.2 to $3.33 billion, with the newly raised funds representing about 3% of that value. The loan, backed by a portion of those holdings, is part of a $500 million credit facility that Metaplanet established to maintain flexible access to capital. Executives emphasized the company’s “conservative financial management” approach, noting that the collateralized portion of its reserves remains “only a small fraction” of total assets—underscoring low leverage amid a volatile crypto price index.

Proceeds from the loan will serve multiple purposes. The largest share is earmarked for additional bitcoin purchases under Metaplanet’s corporate treasury strategy, reinforcing its long-term conviction in BTC as a reserve asset. The company also intends to expand its “Bitcoin Income Generation” business, which uses existing bitcoin holdings to produce option-based yields. Depending on market conditions, a portion of the funds may go toward share buybacks, aligning with management’s goal of strengthening shareholder value while maintaining exposure to bitcoin’s performance.

The average acquisition cost of Metaplanet’s bitcoin sits at $108,036 per coin, placing its position roughly 4.4% below cost at recent prices. The company added 5,268 BTC for $615.67 million in October 2025 and 5,419 BTC for $632.53 million in September, pushing its total holdings beyond 30,800 BTC. Year-to-date, it reported a “BTC Yield” of 497.1%, a proprietary metric tied to internal performance benchmarks.

Financial momentum has been strong despite volatile markets. Revenue from Metaplanet’s bitcoin-related income operations reached ¥24.4 billion (approximately $150–200 million) in Q3 2025—a 3.5× increase year over year. Shares of the company, however, have been turbulent: up nearly 30% year-to-date but down 81% from a May 2025 peak of $15.30 to around $2.79. Analysts have noted that such volatility mirrors broader market sentiment reflected in the global coin market cap and underscores the firm’s high correlation with bitcoin’s trajectory.

Metaplanet’s long-term goal remains ambitious: to accumulate 210,000 BTC by the end of 2027, equivalent to about 1% of bitcoin’s total capped supply. That target, if met, would cement its position among the world’s largest publicly traded bitcoin holders, trailing only a handful of U.S. firms. The strategy blends traditional capital-market instruments with crypto-native leverage, positioning Metaplanet as both a treasury management pioneer and a hybrid fintech operator bridging conventional finance with the expanding digital-asset ecosystem.

Market watchers say the firm’s approach underscores how publicly traded entities are adapting to the evolving crypto price environment. While Metaplanet’s decision to borrow against its bitcoin marks a calculated risk, its relatively small debt-to-asset ratio suggests a measured attempt to scale exposure without compromising liquidity. As bitcoin continues to oscillate near the $100,000 mark, Metaplanet’s actions reflect a growing corporate willingness to use crypto assets as collateral—an emerging trend that could reshape how institutional investors interact with digital assets and influence the broader crypto price index in the quarters ahead.

This article has been refined and enhanced by ChatGPT.