Metaplanet, a publicly traded Japanese company, is deepening its commitment to Bitcoin with a fresh injection of $130 million in Bitcoin-backed credit. The company announced the execution of the loan on Tuesday, marking a significant step in its strategy to accumulate more BTC. This move further solidifies Metaplanet's position as a pioneering corporate adopter of Bitcoin in Asia.
The $130 million loan is part of a larger $500 million credit facility, of which Metaplanet has now drawn a total of $230 million. The funds will be used to acquire additional Bitcoin, expand Bitcoin revenue operations, and potentially repurchase shares. Metaplanet's strategy reflects a growing trend among corporations to utilize Bitcoin-backed loans as a means of unlocking capital without selling their BTC holdings.
Metaplanet currently holds 30,823 BTC. While the company has not disclosed the lender, the terms of the initial $100 million loan included no fixed maturity date and allowed repayment at any time, offering the company flexibility. The loan also had a variable interest rate tied to U.S. benchmarks.
The company's aggressive Bitcoin accumulation strategy is driven by a belief in Bitcoin as a strategic hedge against inflation and fiat currency devaluation. Metaplanet aims to accumulate 10,000 BTC by the end of 2025 and 21,000 BTC by 2026.
In addition to debt financing, Metaplanet is also exploring equity instruments to fund its Bitcoin strategy. The company recently announced a $135 million capital raise through the issuance of new Class B perpetual preferred shares. Dubbed "Mercury," these shares offer a 4.9% annual dividend and include a conversion option, providing investors with both income and potential equity exposure.
Despite facing a nearly 20% unrealized loss on its Bitcoin investments, Metaplanet remains committed to its strategy. The company's average acquisition cost is approximately $108,036 per BTC. Bitcoin's price has recently slid to around $80,000, which is below Metaplanet's cost basis.
Metaplanet's moves are being closely watched as a potential model for other Japanese firms looking to enter the Bitcoin space. Japan has been slower than the U.S. and parts of Europe in adopting Bitcoin-based capital strategies, but Metaplanet's actions could signal a shift. Several Japanese companies have recently increased their Bitcoin reserves, indicating a growing institutional adoption in the country. Factors such as a weakening yen, low real interest rates, and supportive regulatory frameworks have encouraged traditional firms to view Bitcoin as a valuable portfolio diversifier.
Metaplanet's stock is traded under the ticker MTPLF. As of November 24, 2025, Metaplanet (3350) was trading at a price of 367.0 JPY on the Tokyo Stock Exchange.
Metaplanet's bold Bitcoin strategy has drawn comparisons to MicroStrategy, another company known for its large Bitcoin holdings. By integrating Bitcoin into its treasury and business model, Metaplanet aims to enhance shareholder value and signal a broader shift in how public companies approach digital assets.
