Bitcoin News Today: Metaplanet Defies BTC Downturn, Secures $130M Loan to Buy More

Metaplanet, the Japanese hotel company turned Bitcoin treasury powerhouse, has secured another $130 million in Bitcoin-backed loans as the cryptocurrency dips below $88,000. The latest draw from its $500 million credit facility underscores the firm's aggressive strategy to expand its digital-asset holdings despite a nearly 20% unrealized loss on its current Bitcoin portfolio according to reports. The move follows a $135 million perpetual preferred share offering announced in November 2025, which includes the MERCURY Class B shares designed to minimize equity dilution while funding further BTC accumulation as detailed in the announcement.

The company's capital-raising efforts are part of a broader $5 billion commitment to its U.S. subsidiary, Metaplanet Treasury Corp, aimed at accelerating Bitcoin purchases and optimizing treasury operations. This expansion, announced in June 2025, aligns with Metaplanet's goal to hold 210,000 BTC by 2027. Funds from the recent loan and preferred share issuance will be allocated entirely to Bitcoin acquisitions, with the firm emphasizing minimal short-term financial impact.

Metaplanet's financing strategy combines debt and equity instruments to scale its Bitcoin treasury. The $500 million credit facility provides flexible liquidity secured by its BTC reserves, while the MERCURY shares-a hybrid of fixed-income and Bitcoin-linked upside-offer long-term capital without diluting common shareholders as explained in the report. The preferred shares, which carry a 4.9% annual dividend and a ¥1,000 conversion price, are structured to attract institutional investors seeking stable yields and exposure to Bitcoin's price appreciation according to analysis.

The company's resilience amid market volatility has drawn scrutiny. Despite Bitcoin's decline, Metaplanet continues to defend its treasury model, with CEO Simon Gerovich stating the firm's reserve size ensures "sufficient collateral headroom" to withstand further price drops. This confidence contrasts with broader industry challenges: 26 of 168 Bitcoin treasury firms now trade below their crypto reserves, and Japan's Financial Services Agency is reportedly drafting rules requiring exchanges to maintain liability reserves for user compensation.

Metaplanet's strategy reflects a growing trend among corporate Bitcoin holders to leverage structured finance. Alongside peers like MicroStrategy and Strive, the firm is pioneering perpetual preferred shares and collateralized debt to fund large-scale Bitcoin accumulation. However, analysts warn that compressed valuations and regulatory shifts could test the sustainability of these models. For now, Metaplanet remains focused on its long-term vision, with Gerovich describing the MERCURY program as "a new step in scaling" its Bitcoin-centric operations.