Bitcoin Magazine Metaplanet Draws $100 Million Bitcoin-Backed Loan to Buy More Bitcoin

Tokyo-listed Bitcoin treasury firm Metaplanet has tapped a $100 million Bitcoin-backed loan to fuel further bitcoin accumulation, expand its income business, and potentially repurchase shares amid mounting market volatility.

The borrowing, executed on October 31 and disclosed today, November 4, marks the first drawdown from Metaplanet’s $500 million credit facility announced in late October.

The funds will primarily go toward additional Bitcoin acquisitions, according to the company.

Metaplanet’s loan is collateralized by its 30,823 BTC — worth roughly $3.5 billion — and represents just 3% of its total holdings, underscoring what management called a conservative financial policy, according to CoinPos

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