Metaplanet Secures $100 Million Bitcoin-Backed Loan to Increase BTC Holdings

Highlights:

• Metaplanet raised $100 million using Bitcoin collateral to accelerate Bitcoin purchases, share buybacks, and other income-generating businesses. 
• Metaplanet said the loan is safe, backed by strong Bitcoin reserves worth $3.5 billion.
• The company recently launched a $500 million buyback program to enhance shareholder and market confidence.

Metaplanet, a Tokyo-listed firm known for its Bitcoin investments, is gearing up to expand its crypto reserves once again. The company has secured a $100 million loan to invest in buying more Bitcoin, income-generating projects, and share buybacks. The company said it might use the funds to buy more Bitcoin, grow its Bitcoin income business, or buy back shares, depending on market conditions. “The funds earmarked for the Bitcoin Income business will be used as margin and invested to generate option premiums,” Metaplanet added. 

In a Tuesday filing, Metaplanet said it borrowed money on October 31 through a credit deal that lets it use its Bitcoin as collateral. The company didn’t share the lender’s name but said the loan follows a U.S. dollar rate with a small extra charge and can be repaid anytime. Metaplanet explained that the loan is small and safe since it holds 30,823 Bitcoin, worth around $3.5 billion at the end of October. 

The company said it follows a careful financial policy and avoids taking on too much debt. It added that its large collateral buffer helps it stay secure even if Bitcoin prices fall, which prevents any margin call risks.

JUST IN: Metaplanet borrows $100 million loan by using its Bitcoin as collateral to buy more #Bitcoin pic.twitter.com/UayQKj1FKi

— Bitcoin Magazine (@BitcoinMagazine) November 5, 2025

$500 Million Buyback Plan to Rebuild Investor Trust

A few days earlier, Metaplanet revealed a 75 billion yen ($500 million) share buyback plan funded through Bitcoin-backed loans. The company said the move aims to increase Bitcoin yield per share and regain market confidence, as its stock price remains below the value of its Bitcoin holdings. The board-approved buyback program permits Metaplanet to repurchase up to 150 million shares, about 13.13% of its total stock. The buyback will take place from this Wednesday until October 28, 2026.

*Notice Regarding the Establishment of Share Repurchase Program* pic.twitter.com/GBNY8fJfv4

— Metaplanet Inc. (@Metaplanet_JP) October 28, 2025

Metaplanet Focuses on Growth Despite mNAV Drop

Metaplanet said the $100 million loan will have only a small effect on its 2025 results but will support its growth plans and improve financial stability. The company added that it will share updates if any major changes occur.

Metaplanet’s modified net asset value (mNAV) was below 1.0x in mid-October, as its shares plunged 70% from their June high. The mNAV measures a company’s enterprise value against its Bitcoin holdings. Despite the decline, Metaplanet remains focused on its Bitcoin Treasury Strategy. It aims to reach 210,000 BTC by December 2027. 

A recent 10x Research report found that some Bitcoin treasury firms lost billions as their NAVs dropped sharply. Many companies sold shares at higher prices than their Bitcoin holdings, which caused big losses for investors while firms kept buying real Bitcoin

Metaplanet’s income model generates revenue through cash-collateralized Bitcoin options. In Q3 2025, this strategy generated 24.4 billion yen ($160 million) in revenue, a 3.5x rise from 6.9 billion yen a year earlier. The company said the premium income helps reduce risk when markets turn volatile.