Metaplanet Boosts Bitcoin Holdings to 44,000 BTC in Q3
Metaplanet, a Bitcoin treasury firm listed on the Tokyo Stock Exchange, boosted its holdings by 1,000 BTC in the third quarter, bringing its total to 44,000 BTC, valued at approximately $3.8 billion as of September 30. The company executed a strategic sale and repurchase to demonstrate liquidity and enhance its credit profile. Metaplanet sold 10,000 BTC for around $789.2 million, averaging $78,925 per coin, before repurchasing 11,000 BTC for $948.7 million at an average price of $86,246. The company temporarily held the proceeds in cash to show it could cover interest-bearing debt, though it did not repay the obligations.
The CEO, Simon Gerovich, emphasized that Metaplanet's ambitions extend beyond simply accumulating Bitcoin. He stated, "Our objective has been to build the leading Bitcoin financial company in Asia." The company also introduced a Net Interest Income Strategy, aiming to invest 10% to 15% of its total assets in preferred securities issued by Bitcoin treasury companies to generate returns above funding costs.
Metaplanet's options-based Bitcoin Income Generation business reported approximately $5.4 million in Q3 revenue, down 51% from Q2 and 65% year over year. Nine-month revenue reached approximately $35.2 million, marking eight consecutive quarters of revenue generation. Shares of Metaplanet closed 2% higher on Monday at 297 yen ($1.88).