Bitcoin treasury firm Metaplanet (3350) added a net 1,000 bitcoin in the third quarter, bringing its holdings to 44,000 BTC ($3.8 billion) as of Sept. 30, following a sale and repurchase designed to demonstrate liquidity and strengthen its credit profile.
The Japanese company sold 10,000 BTC for approximately $789.2 million, averaging $78,925 per coin, before purchasing 11,000 BTC for $948.7 million at an average of $86,246.
Metaplanet temporarily held the proceeds in cash to demonstrate that it could cover outstanding interest-bearing debt, although those obligations were not repaid. It subsequently repurchased bitcoin at higher prices. Its total holdings have a cost basis of approximately $4.33 billion, averaging $98,454 per BTC.
CEO Simon Gerovich said the announcements reflected ambitions beyond accumulating bitcoin. “Our objective has been to build the leading Bitcoin financial company in Asia,” he said.
The company also introduced a Net Interest Income Strategy, targeting investments principally in preferred securities issued by bitcoin treasury companies. It plans to allocate approximately 10% to 15% of total assets to these investments, seeking returns above its funding costs to service obligations and support further bitcoin purchases.
