Metaplanet just locked in a fresh $130 million loan using its massive Bitcoin reserves as collateral.
The deal expands one of the largest corporate Bitcoin-backed financing plays to date, arriving right as BTC trades far below the company’s cost basis, putting its strategy directly under market pressure.
The publicly traded Japanese firm has drawn $130 million from its credit facility, secured entirely by its Bitcoin holdings. The agreement has a maximum limit of $500 million.
The funds are earmarked for three goals:
The company holds 30,823 BTC, enough to comfortably meet collateral requirements under the facility.
Metaplanet calls Bitcoin a strategic asset, not just treasury exposure, and continues building an aggressively BTC-dense balance sheet as part of its long-term roadmap.
But the market backdrop is tough. Bitcoin slid into the $80,000 range over the weekend, well below Metaplanet’s estimated $108,000 cost basis, creating significant unrealized losses across its holdings.
The timing also complicates the company’s newly unveiled “Mercury” initiative, which aims to raise roughly $150 million (21.2 billion yen) through preferred share issuance to support its broader Bitcoin expansion strategy.
Metaplanet’s stock fell 7.75% on Friday, but is up by 2.24% today. Dilution becomes a tougher sell when the underlying asset is underwater yet lower BTC prices could let Metaplanet lower its average cost basis if the raise succeeds.
Metaplanet is reinforcing a growing corporate trend: tapping Bitcoin-backed loans instead of selling BTC for liquidity.
The structure preserves long-term upside while unlocking capital quickly, which is a model that more global firms may begin utilizing.
All eyes now turn to how Metaplanet navigates the BTC downturn and whether its high-leverage Bitcoin strategy becomes a template for bold treasury management or a stress test for the Bitcoin-collateral playbook.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The government of Bermuda, under Premier David Burt, has inked a strategic partnership with Coinbase…
XRP price opened the year with a sharp rally of over 20%, outpacing larger majors…
The chief executive of Canary Capital said XRP should no longer be judged as a…
In recent weeks, the price of Bitcoin has been facing intense volatility as sellers dominate…
The cryptocurrency market moved lower on Monday, with total market value falling about 2.4% to…
The Bitcoin price is jiggling around $93,000 after marking an intraday low below $92,000, which…
