Metaplanet Expands $3.5 Billion Bitcoin Treasury With $100 Million Corporate Credit Move
Japan’s Bitcoin Giant Metaplanet Expands $100 Million Bitcoin-Backed Treasury Strategy
Japan’s largest corporate Bitcoin holder, Metaplanet Inc., is doubling down on its cryptocurrency strategy, announcing a major financial move that cements its reputation as Asia’s boldest Bitcoin treasury institution. The company has secured a $100 million (approximately ¥15.3 billion) loan backed by its Bitcoin holdings, signaling a long-term bet on digital assets even as global markets fluctuate.
According to the company’s disclosure this week, the loan represents just 3% of its total Bitcoin value, providing a robust buffer against potential price swings. Metaplanet currently holds 30,823 BTC, valued at roughly $3.5 billion (¥540 billion) at current market rates.
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| Source: Official Filing |
The company said the borrowed funds will be used primarily for three purposes: acquiring more Bitcoin, expanding its income-generating businesses, and repurchasing company shares as part of its long-term capital efficiency plan. Additionally, a portion of the funds will support Metaplanet’s Bitcoin-based options income model, which generates stable yield from volatility while maintaining its BTC reserves.
That options segment, already a profitable line of business, is expected to exceed last year’s third-quarter result of ¥690 million, underscoring the company’s ability to transform Bitcoin from a passive asset into an income-generating vehicle.
Flexible Loan, Strategic Vision
While Metaplanet did not disclose the name of the lending institution, the company confirmed that the loan comes with no fixed repayment deadline. This flexibility allows Metaplanet to repay or recycle the funds at any time, depending on market conditions.
Analysts say this move reflects a growing confidence among Japanese institutions toward crypto-backed credit models—a sector once seen as too volatile for conservative markets like Japan. By using Bitcoin as collateral instead of traditional assets, Metaplanet demonstrates how corporate balance sheets are evolving in the digital age.
Linked to a $500 Million Credit Facility
This $100 million loan is part of a broader $500 million (¥76.4 billion) credit facility that Metaplanet unveiled in late October. Under this larger plan, the company aims to repurchase up to 150 million shares, equivalent to 13.15% of its total stock, by October 2026.
Executives say the repurchase initiative will not only enhance shareholder value but also increase per-share exposure to Bitcoin, effectively turning Metaplanet stock into a proxy investment for BTC.
By merging a strategic loan and a share buyback program, Metaplanet is following a blueprint similar to MicroStrategy’s leveraged Bitcoin strategy in the United States. That company, led by Michael Saylor, has become a model for corporate Bitcoin adoption, and Metaplanet appears to be building an Asian counterpart to that approach.
Inside Metaplanet’s Bitcoin Treasury Playbook
Metaplanet launched its “Bitcoin Treasury Strategy” in April 2024 with a bold mission: to make Bitcoin the foundation of its corporate balance sheet. The firm’s target is ambitious—accumulating 210,000 BTC by 2027—a milestone that would rank it among the top three corporate Bitcoin holders worldwide.
Recent financial data reveals the scale of its current position:
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BTC Holdings: ₿30,823
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Bitcoin Net Asset Value: $3.13 billion
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Debt Outstanding: $24.4 million
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Enterprise Value: $3.17 billion
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Year-to-Date BTC Yield: 496.4%
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mNAV Ratio: 1.069×
Source: MetaPlanet-Metrics
Metaplanet’s vision extends far beyond passive accumulation. The company aims to transform Bitcoin into a productive corporate asset by integrating lending, yield generation, and options trading—all designed to harness Bitcoin’s volatility without reducing its holdings.
This strategic shift positions Metaplanet not merely as a Bitcoin investor but as a pioneer in crypto-financial engineering, developing a sustainable model for corporate engagement with decentralized assets.
Metaplanet’s Rising Global Ranking
With nearly 31,000 BTC, Metaplanet now ranks as the fourth-largest corporate Bitcoin holder worldwide. It trails only MicroStrategy (640,808 BTC), MARA Holdings (53,250 BTC), and XXI Capital (43,514 BTC).
Within Japan, Metaplanet stands far ahead of domestic peers such as Convano and Remix Point, leading by a wide margin in digital asset exposure. Its ¥540 billion Bitcoin portfolio has made it a benchmark for institutional investors exploring exposure to crypto assets in Asia.
Financial analysts in Tokyo note that Metaplanet’s rise coincides with growing institutional interest in Bitcoin across the region. “This is a pivotal moment for Japan’s financial sector,” said Kenji Yamamoto, a senior analyst at Tokyo Digital Asset Research. “Metaplanet is showing that Bitcoin can function as a reserve asset—liquid, transparent, and strategically sound for corporate treasuries.”
Why Companies Are Turning to Bitcoin Treasuries
Since 2020, global corporations have increasingly embraced Bitcoin as a treasury reserve asset, seeking protection against rising inflation, currency depreciation, and high interest rates.
Traditional fiat reserves, once seen as safe, now face erosion due to aggressive monetary policy and geopolitical instability. Bitcoin, by contrast, offers a fixed supply, global liquidity, and transparent valuation—qualities that appeal to both tech-forward companies and financial institutions.
Regulatory progress has also accelerated adoption:
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The U.S. Securities and Exchange Commission (SEC) approved Bitcoin Spot ETFs in 2024, simplifying corporate access to BTC exposure.
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The Financial Accounting Standards Board (FASB) updated rules allowing companies to record Bitcoin at fair market value rather than historical cost, making balance sheets more reflective of real-time valuations.
These developments have paved the way for public companies in Asia and Europe to incorporate Bitcoin into long-term financial planning. Japan, known for its cautious approach to financial innovation, now finds itself at the forefront of this trend thanks to Metaplanet’s pioneering example.
The Road Ahead: Bitcoin as an Institutional Reserve
Looking forward, Metaplanet plans to continue its BTC accumulation strategy while exploring partnerships in the financial technology and payment sectors. Insiders suggest the company is also evaluating opportunities to integrate Bitcoin-based products into its broader financial ecosystem, potentially positioning itself as a crypto-native conglomerate in Japan’s evolving Web3 landscape.
Market watchers see this as part of a larger movement toward decentralized corporate finance, where companies use blockchain assets not only as reserves but as productive capital.
“If MicroStrategy defined the Western Bitcoin standard,” says crypto economist Naomi Fujimoto, “Metaplanet could define the Eastern one. Japan’s corporate conservatism makes this even more remarkable—it’s a cultural and financial shift happening in real time.”
A Blueprint for Corporate Crypto Finance
As digital asset regulation continues to mature, Metaplanet’s actions could inspire other corporations to reevaluate their treasury strategies. The company’s transparent reporting, prudent leverage, and balanced approach between yield generation and asset retention make it an example of responsible crypto adoption.
While volatility remains an unavoidable aspect of Bitcoin’s nature, Metaplanet’s strategy underscores a growing belief among global firms: that Bitcoin is evolving from a speculative asset into a foundational pillar of modern finance.
With $3.5 billion in Bitcoin already on its balance sheet and an aggressive expansion plan underway, Metaplanet isn’t just holding Bitcoin—it’s building a corporate identity around it.
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