Metaplanet boosts bitcoin reserves to 44,000 BTC

Metaplanet, a Japanese company, has boosted its bitcoin reserves to 44,000 BTC after a strategic trading quarter. Between July and September, the firm sold 10,000 BTC for $789.2 million and subsequently repurchased 11,000 BTC for $948.7 million. The average selling price was $78,925 per coin, while the average purchase price stood at $86,246.

The company clarified that these transactions were not driven by short-term profit motives but were aimed at testing the liquidity of its large bitcoin holdings. Metaplanet wanted to evaluate how quickly a substantial amount of BTC could be converted into cash. Additionally, the proceeds from the sale covered the company’s total debt and interest obligations.

Metaplanet has also outlined a new capital allocation strategy. The firm plans to hold 85-90% of its capital in bitcoin, while the remaining 10-15% will be invested in income-generating instruments managed by a professional. The company intends to raise financing through issuing shares and other instruments without fixed maturity dates to avoid diluting existing shareholders' stakes.

With its recent bitcoin acquisitions, Metaplanet has moved into second place among public companies in terms of BTC reserves, trailing only Strategy, which holds 848,000 BTC. Previously, Metaplanet reported a quarterly loss of 182.7 million yen ($1.1 million), significantly lower than Strategy’s $8.2 billion loss and Twenty One Capital’s $400 million loss.