Metaplanet Inc., the Tokyo-listed company known for its bitcoin-focused treasury strategy, expanded its borrowing under a previously announced credit facility by securing a new $130 million loan. The loan comes at a time when there is a great deal of scrutiny toward digital asset treasury (DAT) companies.
The draw also follows a $100 million borrowing earlier in November and is fully collateralized with a portion of the company’s Bitcoin reserves. According to the company, the latest loan was executed on Nov. 21 with an undisclosed lender and is secured by bitcoin held on Metaplanet’s balance sheet.
The terms allow daily automatic renewal, discretionary repayment, and an interest structure tied to a reference USD rate plus a spread. The company emphasized that the scale of its bitcoin holdings provides substantial collateral headroom. As of Oct. 31, Metaplanet held 30,823 BTC valued at roughly $3.5 billion at the time of disclosure.
The company said its conservative financial policy requires maintaining a wide collateral buffer to absorb volatility in bitcoin’s price, noting that the value of its holdings far exceeds the total amount borrowed. Including the newest loan, Metaplanet has drawn $230 million from the $500 million credit facility first announced in October.
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Funds from the new draw will be allocated toward additional bitcoin acquisitions, expansion of the company’s BTC income-generation activities, and potential share repurchases depending on market conditions. The income-generation program involves using pledged bitcoin to write options and collect premium revenue.
Metaplanet’s broader strategy centers on increasing its bitcoin reserves while leveraging low-cost financing options available in Japan’s interest-rate environment. The company, which pivoted into a bitcoin-centric treasury approach in 2024, is now the largest corporate bitcoin holder in Japan and among the largest globally.
The company said the financial impact of the latest loan is expected to be minimal for the fiscal year ending December 2025. Any material changes, it noted, would be disclosed promptly.
- What did Metaplanet announce on Nov. 25, 2025?
The company disclosed a new $130 million loan draw from its Bitcoin-backed credit facility. - How much has Metaplanet borrowed in total from the facility?
The company has drawn $230 million, representing 46% of the $500 million limit. - What will the new funds be used for?
Metaplanet plans to allocate the capital toward bitcoin purchases, income-generation activities, and potential share repurchases. - How is the loan secured?
The loan is collateralized by a portion of Metaplanet’s 30,823 BTC reserve.
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