Metaplanet has expanded its bitcoin-centered strategy by drawing a new $130 million loan from its bitcoin-backed credit facility, bringing total utilization to $230 million out of the $500 million available. The November 21 loan will support further bitcoin acquisitions, growth of the company’s bitcoin income-generation business and potential share repurchases.
The financing is secured against Metaplanet’s sizeable bitcoin holdings, which totaled 30,823 BTC as of October 31, valued at roughly $3.5 billion. The company said its large reserves offer substantial collateral buffers even during sharp market movements. The loan’s interest rate is tied to a U.S. dollar benchmark plus a spread, and the term renews daily, offering flexible repayment options.
Metaplanet continues to employ bitcoin-backed options strategies to capture premium revenue. This development follows the company’s recent perpetual preferred offerings, which add another long-term funding source. Despite the news, Metaplanet shares rose only 2.24% to 365 yen and remain over 80% below their June peak.
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