Tokyo-based digital assets firm Metaplanet has taken out another $130 million loan backed by its bitcoin reserves, continuing its steady push to grow its crypto-focused balance sheet and income strategy. The move builds on the company’s existing $500 million credit facility, from which it has now used a total of $230 million.
The latest borrowing was executed on November 21 and disclosed in a notice on Tuesday. Metaplanet said the terms mirror those of its earlier $100 million loan under the same facility. The lender remains unnamed at its own request.
According to the company, the new loan carries a floating interest rate tied to US dollar benchmarks and automatically renews each day. Metaplanet can repay the balance at any time. All funds drawn from the credit line are secured by the firm’s bitcoin holdings.
The company currently holds 30,823 BTC, valued at roughly $2.7 billion at today’s prices. Metaplanet noted that although bitcoin volatility could force it to post additional collateral, its reserves provide significant coverage relative to the size of the loan. The firm added that its financial guidelines keep borrowing levels within a range that maintains healthy collateral buffers even during steep market swings.
Metaplanet plans to use the latest loan to acquire more bitcoin, expand its bitcoin-based income business, and potentially repurchase shares depending on market conditions. For its income-generation arm, the company expects to use some funds to support bitcoin options selling, allowing it to earn premium income.
The firm said the financial impact of the new loan on results for the fiscal year ending December 2025 should be minimal, and it will report any meaningful updates as needed.
Metaplanet is currently the fourth-largest publicly traded company holding bitcoin, following MicroStrategy, mining firm Marathon, and the Tether-backed Twenty One. Despite its growing bitcoin stack, the company’s stock has struggled. Shares have fallen 81 percent since June, and its market cap-to-net asset value ratio has tightened. With a cost basis of about $3.3 billion, the company’s bitcoin position is sitting on an unrealized loss of roughly $600 million.
