Metaplanet Still Hungry for More Bitcoin Despite BTC Dropping Below Its Cost Basis

ccn.comPublished on 2025-11-05Last updated on 2025-11-05

Key Takeaways

  • Metaplanet has drawn $100 million from a newly established $500 million credit line.
  • The Japanese firm will use the funds to expand its Bitcoin holdings.
  • Corporate crypto accumulation has slowed sharply in Q4 2025.

When most are backing away from crypto as Bitcoin slips below $100,000, Japan’s Metaplanet is doing the opposite.

The firm, often called “Asia’s MicroStrategy,” is doubling down on its Bitcoin strategy, tapping a fresh $100 million loan to buy even more BTC.

Bitcoin Treasuries in Trouble? Over 50 Firms are Sitting on Major Losses

Metaplanet Betting Big When Others Pull Back

Metaplanet confirmed it has withdrawn $100 million from its new $500 million credit facility. The loan is fully collateralized by the company’s existing Bitcoin reserves.

The funds will be deployed toward additional Bitcoin purchases as part of Metaplanet’s long-term accumulation plan.

The firm is also expanding its Bitcoin Income Generation initiative, which includes selling cash-secured put options to capitalize on volatility and executing a $500 million share repurchase program.

This latest move forms part of Metaplanet’s ambitious “555 Million Plan” — a roadmap targeting ownership of 210,000 BTC (roughly 1% of Bitcoin’s total supply) by 2027.

The company already hit its 2025 interim goal of 30,000 BTC ahead of schedule in early October.

With 30,823 BTC currently on its balance sheet, Metaplanet now ranks as the world’s fourth-largest corporate Bitcoin holder, trailing only Strategy’s (640,031 BTC), MARA Holdings (52,477 BTC), and XXI (43,514 BTC).

Metaplanet remains Asia’s undisputed Bitcoin heavyweight.

Corporate Crypto Buying Loses Steam

While Metaplanet ramps up, most other corporate Bitcoin treasuries are cooling off.

The feverish pace of accumulation seen earlier this year has slowed sharply through the fourth quarter.

Between January and June, public companies collectively added around 245,000 BTC to their balance sheets.

That figure dropped to 205,000 BTC in the second half of the year — and just 28,000 BTC in Q4 so far.

Quarterly BTC Additions by Public Firms:

  • Q1: 95,431 BTC

  • Q2: 150,079 BTC

  • Q3: 176,762 BTC

  • Q4: 28,000 BTC

Ethereum holdings have followed a similar pattern.

Public companies added 20,000 ETH in Q1, 41,500 ETH in Q2, and a massive 5.6 million ETH in Q3 — but only around 238,500 ETH in Q4 to date.

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