Metaplanet Secures $100M Bitcoin-Backed Loan to Expand BTC Holdings and Support Share Buyback
Quick Breakdown
- Metaplanet secured a $100 M Bitcoin-backed loan to increase its BTC holdings and fund a $500 M share buyback.
- The firm holds 30,823 BTC, providing strong collateral support even in volatile conditions.
- The loan arrives as Bitcoin treasury companies face heightened scrutiny, including S&P’s recent “B-” rating for Saylor’s Strategy due to liquidity and concentration risks.
Metaplanet taps Bitcoin collateral for fresh financing
Tokyo-listed Bitcoin treasury firm Metaplanet has secured a $100 million Bitcoin-backed loan to expand its Bitcoin holdings and support an ongoing share buyback initiative, according to a regulatory filing released on Tuesday.
JUST IN: #Bitcoin treasury company MetaPlanet $MTPLF just rasied $100 million using their BTC as collateral. pic.twitter.com/DNvELyopMb
— BitcoinTreasuries.NET (@BTCtreasuries) November 5, 2025
The loan was issued on October 31 under a credit facility that allows Metaplanet to borrow against its existing Bitcoin reserves. The lender’s identity remains undisclosed, but the company confirmed that the credit carries a U.S. dollar benchmark rate plus a spread and can be repaid at any time.
Metaplanet emphasized that the structure is low-risk, highlighting that it holds 30,823 BTC, valued at roughly $3.5 billion at the end of October — a cushion substantial enough to maintain strong collateral coverage even if Bitcoin’s price weakens.
Funds directed toward BTC accumulation and share repurchases
The company said proceeds from the credit line will be deployed strategically. These include additional Bitcoin purchases, expanding its Bitcoin yield and options income business and repurchasing shares, depending on market conditions.
The move follows Metaplanet’s announcement of a 75 billion yen ($500 million) share buyback program, also using Bitcoin-backed financing. The buyback is aimed at boosting investor sentiment after the company’s market-based net asset value (mNAV) dipped below 1.0, touching 0.88 briefly before recovering.
Despite the volatility, Metaplanet reiterated its ambitious target of acquiring 210,000 BTC by 2027, although it temporarily paused new purchases during last month’s valuation dip.
The firm expects the $100 million drawdown to have only a minor impact on its upcoming fiscal results but said it will report any notable shifts should they occur.
Crypto treasury landscape faces rating pressure
Meanwhile, Michael Saylor’s Bitcoin treasury firm Strategy recently received a “B-” speculative-grade rating from S&P Global. The rating agency highlighted liquidity constraints, concentrated Bitcoin exposure, and limited operational diversity as key risks.
This comes as analysts scrutinize the Bitcoin treasury model more broadly. Research from 10x Research noted that several Bitcoin-holding corporate vehicles saw their NAVs fall sharply after issuing shares at steep premiums to the value of their BTC holdings.
Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The AI boom may follow the path of the 19th-century railway bubble, and builders may not be the ultimate winners
Goldman Sachs analyst Bobby Molavi compared the current situation to the 19th-century British railway mania: 500 companies spent more than the nation's annual income building 8,000 miles of railway, with most early investors losing out, while the real beneficiaries were the later "passengers." He pointed out that the current AI craze is driven by both debt and momentum, and that the S&P 500’s forward P/E ratio of 18x is only "a bit cheaper." Whether the builders can retain value is uncertain, and history does not offer an optimistic answer.
If Anthropic's IPO goes smoothly and the stock price rises next week, then everything remains the same for AI. Otherwise, some companies will go bankrupt.
The shrinking valuations of two major giants have triggered a chain reaction—investors are adopting more conservative revenue multiples for AI startups and are directly halting high-valuation financing for companies with zero revenue. Multiple venture capital firms have advised their portfolio companies to lower valuation expectations and to quickly build up cash reserves. Market participants warn that the outcome of Anthropic’s IPO will be a barometer for the industry: if successful, the boom will continue; if it fails, some companies may face elimination.
After the Brazilian election, political discount deepens; Morgan Stanley remains bullish on Petrobras (PBR.US), focusing on fuel pricing and dividends
Morgan Stanley still maintains its most optimistic "Overweight" rating, but has lowered its year-end 2027 target price from $31 to $25.
Corning (GLW.US) receives initial "Buy" rating from Jefferies! AI factories driving a fiber optic rush, with a potential global supply gap of up to 30%
For Corning, the recent profit growth mainly comes from the expansion of AI clusters. As the number of optical links crossing cabinets and campuses increases, customers need to deploy more optical fibers within limited conduit and cabinet space, thus driving demand for high-density optical cables and connection systems.
Crypto prices
More
