Metaplanet ended the third quarter with 44,000 Bitcoin after selling 10,000 BTC and later purchasing 11,000 BTC. The Tokyo-listed company paid approximately $948.7 million for the additional Bitcoin, bringing the aggregate acquisition cost of its holdings to about $4.33 billion.

As of Sept. 30, Metaplanet’s 44,000 BTC treasury was worth approximately $3.8 billion based on quarter-end prices. That placed the quarter-end market value roughly $530 million below the aggregate acquisition cost. The company’s average cost basis stood at about $98,454 per BTC. The transactions formed part of a broader strategy to demonstrate treasury liquidity and expand the company’s financing options.

Metaplanet’s Q3 Bitcoin Transactions

Metaplanet sold 10,000 BTC during the third quarter for approximately $789.2 million, receiving an average price of $78,925 per Bitcoin. It subsequently bought 11,000 BTC for about $948.7 million at an average price of $86,246 per Bitcoin, roughly 9% above the average sale price. Combined, the two trades moved about $1.74 billion in Bitcoin.

The later purchase added a net 1,000 BTC to the company’s holdings and brought its Bitcoin balance to 44,000 BTC as of September 30. The transactions also left Metaplanet with a period of higher cash reserves. The company could convert part of its BTC holdings into cash to meet financial obligations if necessary.

Strategy Behind the Sale and Repurchase

Metaplanet said the Bitcoin sale was intended to demonstrate liquidity to credit investors and rating agencies. For companies that hold Bitcoin alongside debt, the ability to convert treasury assets into cash on short notice is a standard consideration in credit assessments. For a period, the company held enough cash to exceed the principal amount of its bonds, borrowings and other interest-bearing liabilities.

Metaplanet did not use that cash to repay the obligations. Instead, it later rebuilt its Bitcoin position by purchasing 11,000 BTC at a higher average price than the earlier sale. The approach demonstrated that Bitcoin could function as a liquid treasury asset rather than a reserve the company would avoid selling under all circumstances.

The transaction did not reduce Metaplanet’s outstanding leverage. The company continues to carry debt while maintaining its Bitcoin-focused treasury strategy.

Net Interest Income Strategy

Metaplanet has also introduced a Net Interest Income Strategy as part of its broader capital allocation plan. Under the strategy, the company plans to invest mainly in preferred securities issued by other Bitcoin treasury companies, along with other income-producing assets. Preferred securities typically pay scheduled distributions and rank ahead of common equity in an issuer’s capital structure, characteristics that fit an income-focused allocation.

Management expects those investments to generate income that can help cover funding costs and support additional Bitcoin purchases. Metaplanet plans to keep approximately 85% to 90% of its assets in Bitcoin and allocate 10% to 15% to strategic investments and other activities. How the company fills that 10% to 15% strategic allocation, and which issuers it selects, will be details to follow in upcoming reporting periods.

Metaplanet shares closed Monday at 297 yen, up 2%. The company’s financial structure now includes its 44,000-Bitcoin treasury, debt obligations, Bitcoin-related income and planned investments in other financial assets.

CEO Simon Gerovich said Metaplanet aims to build a Bitcoin financial company in Asia. The strategy includes securities, financing and asset-management activities alongside the company’s existing Bitcoin treasury.

Bitcoin Income Revenue Declines

Metaplanet’s Bitcoin Income Generation business produced approximately $5.4 million in revenue during the third quarter. Revenue fell about 51% from the second quarter and 65% from the same period a year earlier.

The business generated approximately $35.2 million during the first nine months of the year. Metaplanet said the operation has produced revenue for eight consecutive quarters.

The income comes mainly from Bitcoin options activity and is part of the company’s effort to generate recurring revenue from its Bitcoin-related operations.

Original source: https://themarketperiodical.com/2026/10/06/bitcoin-news-metaplanet-holdings-reach-44000-btc-after-q3-trades

This article is for informational purposes only and does not constitute financial or investment advice. Bitcoin treasury values, company strategies and market prices may change as conditions evolve.