- Metaplanet sold 10,000 BTC before repurchasing 11,000 BTC during Q3.
- Total Bitcoin holdings reached 44,000 BTC after a net 1,000 increase.
- The firm also launched a new net interest income strategy.
Metaplanet Bitcoin holdings reached 44,000 BTC after an unusual sale and repurchase during the third quarter. The company sold 10,000 BTC for about $790 million before buying 11,000 BTC for roughly $950 million. The transactions increased its total position by 1,000 BTC while demonstrating that its treasury could provide immediate liquidity.
Metaplanet Bitcoin Holdings Grow After Liquidity Test
The company sold 10,000 BTC at an average price near $78,925. It later repurchased 11,000 BTC at roughly $86,246 per coin. Metaplanet said the sale generated enough cash to exceed its outstanding interest-bearing liabilities. However, the company did not repay those obligations. Instead, it rebuilt the Bitcoin treasury after demonstrating access to liquidity.
The exercise supports Metaplanet’s effort to pursue a credit rating and wider financing options. Those options could include bonds, preferred shares, and Bitcoin-backed credit facilities.
Metaplanet Bitcoin holdings now rank second among publicly traded corporate Bitcoin treasuries. The 44,000 BTC position was worth about $3.8 billion at September-end prices. Its overall acquisition cost stood near $4.33 billion.
Metaplanet Bitcoin Holdings Support New Income Strategy
Metaplanet also introduced a net interest income strategy alongside its revised capital policy. The company plans to deploy capital raised through preferred stock, BitBonds, and Bitcoin-backed borrowing.
The strategy targets assets expected to earn yields above Metaplanet’s funding costs. Preferred securities issued by other Bitcoin treasury companies could form a major part of the portfolio.
Metaplanet Bitcoin holdings will still dominate the balance sheet under the revised policy. The company expects Bitcoin to represent about 85% to 90% of total assets. The remaining 10% to 15% will support strategic investments and acquisitions.
Its Bitcoin income business generated about $5.4 million during the third quarter. Nine-month revenue reached roughly $35.3 million, although management said progress remained below initial expectations. The company kept its full-year earnings forecast unchanged.]]
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