Metaplanet Boosts Bitcoin Holdings to 44,000 After Strategic Sale and Repurchase

Metaplanet, a Japan-based corporate Bitcoin treasury company, has increased its Bitcoin holdings to 44,000 BTC after a strategic sale and repurchase in the third quarter. The company initially sold 10,000 BTC for approximately 124.7 billion yen ($790 million) and later bought back 11,000 BTC for around 149.9 billion yen ($950 million), resulting in a net increase of 1,000 BTC.

The proceeds from the sale were used to demonstrate liquidity and explore fundraising options, including bonds and preferred shares, without actually repaying existing debt. Metaplanet aims to secure a credit rating and expand its financial strategies through BitBonds and Bitcoin-backed credit lines.

The transaction generated a capital loss under U.S. tax rules, potentially creating a deferred tax asset of about $97 million, though this figure is still awaiting auditor confirmation. The company also unveiled a new net interest income strategy, planning to invest funds from perpetual preferred shares and corporate bonds into assets that generate stable returns.

Under its updated asset-management policy, Metaplanet will maintain 85% to 90% of its total assets in Bitcoin, with the remaining 10% to 15% allocated to other strategies like mergers and acquisitions. The company’s Bitcoin options revenue business reported 848.4 million yen ($5.4 million) in third-quarter revenue, bringing the total to 5.57 billion yen ($35.3 million) for the first nine months of the year.