Japanese Bitcoin Treasury Firm Revamps Capital Strategy

Tokyo-listed company Metaplanet has announced the creation of a $500 million credit facility secured by its Bitcoin holdings.

At the same time, the firm has approved a ¥75 billion (approximately $500 million) share repurchase program aimed at improving capital efficiency and supporting long-term Bitcoin accumulation.

Key Components and Strategy

The new credit line provides Metaplanet with flexible borrowing power backed by its existing Bitcoin reserves.

The facility can be used to finance share buybacks, acquire additional Bitcoin, or invest in income-generating ventures that strengthen the company’s balance sheet.

The share repurchase program authorizes the buyback of up to 150 million common shares, representing around 13 percent of total outstanding stock, through October 2026.

By reducing the number of outstanding shares while maintaining or increasing Bitcoin reserves, Metaplanet aims to raise its internal “BTC yield” metric, which measures Bitcoin held per share.

The company currently holds about 30,800 BTC, worth approximately $3.5 billion, and has stated its ambition to reach 210,000 BTC by 2027.

This aggressive target aligns with Metaplanet’s strategy to operate as a Bitcoin treasury company, treating BTC as its core reserve and performance benchmark.

Why It Matters

Metaplanet’s announcement demonstrates how publicly traded companies are beginning to use Bitcoin as both collateral and strategic capital.

By combining a large-scale buyback with Bitcoin-backed credit, the firm strengthens its position as one of the leading corporate holders of digital assets.

The strategy reflects growing confidence in Bitcoin’s long-term value and its ability to serve as a reserve-grade asset in modern corporate finance.

Risks and Considerations

The use of Bitcoin as collateral introduces financial leverage and increases exposure to price volatility. A significant decline in Bitcoin’s value could affect borrowing conditions and trigger additional collateral requirements. Metaplanet will need to carefully balance debt, liquidity, and market exposure to maintain financial stability while executing its share buyback plan.

Investors are watching closely to see whether the approach enhances long-term shareholder value or introduces new layers of risk.

Regulatory oversight, market sentiment, and crypto price cycles will all play a role in determining the program’s success.

Outlook

If executed successfully, Metaplanet’s dual strategy could set a precedent for how corporations integrate Bitcoin into modern treasury management.

It highlights a shift toward treating Bitcoin as a core component of financial structure rather than a speculative investment.

For now, Metaplanet continues to redefine what a Bitcoin-based corporate balance sheet can look like, bridging traditional finance and decentralized assets.