Metaplanet Leans Into Bitcoin Debt Play with Fresh $130M to Buy More BTC

Why It Matters

The move underscores how crypto‑focused firms are leveraging collateralized debt to expand exposure to Bitcoin without diluting equity, highlighting a growing trend of financial engineering in the digital‑asset space and testing the resilience of such strategies amid price volatility.

Summary

Tokyo‑listed Metaplanet, a Bitcoin treasury firm, drew an additional $130 million from its $500 million Bitcoin‑backed credit facility, bringing total borrowings to $230 million. The loan, executed on Friday, will be used to purchase more BTC, fund its Bitcoin income program and potentially finance share buybacks, while the company also plans a $135 million raise of Class B perpetual preferred shares for longer‑term capital. Despite a roughly 20 % unrealized loss on its BTC holdings—bought at an average $108,036 versus a current price near $87,000—Metaplanet says its reserve size provides ample collateral headroom and it will continue to HODL and accumulate Bitcoin.