This week, the digital asset treasury (DAT) company, Metaplanet Inc., announced that it has executed a $100 million loan under its existing credit facility agreement, using bitcoin as collateral, according to a company notice published Nov. 4, 2025. The Tokyo Stock Exchange-listed company (TSE: 3350) said the loan was finalized on Oct. 31 and is automatically renewed daily, allowing repayment at its discretion.

The facility’s terms include an interest rate pegged to the reference U.S. dollar rate plus a spread. The lender was not disclosed at the counterparty’s request. Metaplanet noted that the loan is secured by its bitcoin reserves, which total 30,823 BTC—worth about $3.5 billion as of the execution date—providing ample collateral coverage for the $100 million borrowing. The Japanese firm is the fourth largest BTC treasury company in terms of holdings.

According to the company, proceeds from the credit facility will be used primarily for “additional acquisition of bitcoin,” as well as for its “ Bitcoin Income Generation” business and potential share repurchases, depending on market conditions. The income generation division uses bitcoin as collateral to produce option premiums, further expanding the firm’s capital efficiency strategy.

Metaplanet emphasized that it maintains a conservative approach to leverage and financial management, ensuring its bitcoin-backed borrowing remains fully covered even during significant price fluctuations. The firm stated that it seeks to maintain collateral adequacy “even in the event of significant price declines in bitcoin,” signaling disciplined treasury operations.

Founded in 1999, Metaplanet has evolved from a hotel operator into Japan’s first bitcoin treasury company, positioning bitcoin as its primary reserve asset. Led by CEO Simon Gerovich, the company’s DAT strategy integrates bitcoin accumulation, treasury optimization, and education initiatives such as its exclusive license for Bitcoin Magazine Japan.

The company said the financial impact of this borrowing on its 2025 earnings is expected to be minimal, though further disclosures will be made if necessary. The Metaplanet announcement trails Sequans Communications S.A., the world’s 33rd-largest bitcoin treasury holder, which offloaded 970 BTC—earning the title as the first publicly traded bitcoin-based DAT bold enough to cash out.

• What is Metaplanet’s latest financial move?
  Metaplanet borrowed $100 million using bitcoin as collateral to fund further bitcoin acquisitions.
• How much bitcoin does Metaplanet hold?
  As of Oct. 31, 2025, the company holds about 30,823 BTC, valued at $3.5 billion.
• What will Metaplanet use the loan for?
  The funds will support bitcoin purchases, income generation through options, and possible share buybacks.
• Who leads Metaplanet’s bitcoin treasury strategy?
  The company is led by CEO Simon Gerovich, with a focus on expanding corporate bitcoin adoption.

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