Metaplanet Adds Net 1,000 BTC in Q3, Total Holdings Hit 44,000 BTC

Japan-based bitcoin treasury company Metaplanet increased its net Bitcoin position by 1,000 BTC in the third quarter, lifting total holdings to 44,000 BTC valued at about $3.8 billion as of Sept. 30, according to company disclosures cited by CoinDesk. The Tokyo-listed firm has emerged as one of Asia's most aggressive public bitcoin buyers since it began accumulating in April 2024. The latest increase was driven by a structured sale-and-repurchase transaction aimed at demonstrating liquidity rather than straightforward accumulation, extending a run of activity that has made the company a closely watched bitcoin treasury in the region. Transaction details Metaplanet sold 10,000 BTC for roughly $789.2 million at an average price of $78,925 per coin, then repurchased 11,000 BTC for $948.7 million at an average of $86,246. The company temporarily held the sale proceeds in cash to show it could cover interest-bearing debt, though it did not repay those obligations, before buying back at higher prices. Executives described the maneuver as evidence the firm can access liquidity quickly while maintaining long-term bitcoin exposure, a metric lenders monitor closely when assessing crypto-treasury balance sheets. Metaplanet's total Bitcoin position now has a cost basis of about $4.33 billion, or $98,454 per coin. New income strategy The company also unveiled a Net Interest Income Strategy focused primarily on investments in preferred securities issued by bitcoin treasury companies. Metaplanet plans to allocate about 10% to 15% of total assets to the strategy, aiming to earn returns above its funding costs to help service existing obligations and support additional bitcoin purchases. The initiative complements an options-based Bitcoin income operation that has generated revenue for eight consecutive quarters. That business produced about $5.4 million in Q3 revenue, down 51% from the prior quarter and 65% year over year, while nine-month revenue totaled about $35.2 million. The Q3 sale exceeded the size of the company's entire debt, underscoring the scale of the liquidity demonstration. "Our objective has been to build the leading Bitcoin financial company in Asia," CEO Simon Gerovich said. Metaplanet's expanded holdings strengthen its standing among Asia's largest corporate bitcoin owners, echoing a playbook used by Strategy and other public treasury firms that pair large BTC positions with income-generating programs. Shares closed 2% higher Monday at 297 yen ($1.88).