Metaplanet sold 10,000 bitcoin and bought back 11,000 in third quarter
Image: DecryptMetaplanet sold 10,000 BTC and bought 11,000 BTC during the third quarter, the Tokyo-listed company disclosed. The round trip lifted its holdings by 1,000 BTC to 44,000 BTC as of September 30. Metaplanet said the sale exceeded its outstanding bonds, borrowings and other interest-bearing liabilities, and that the aim was to show credit investors its bitcoin can be turned into cash. It paid $949 million for the 11,000 BTC as bitcoin's price rose between the transactions.
Key points
- Metaplanet sold 10,000 BTC and bought 11,000 BTC in the third quarter, a net gain of 1,000 BTC.
- Metaplanet said the round trip was meant to show credit rating agencies and credit investors that its bitcoin can be turned into cash.
- CEO Simon Gerovich said the strategy was never simply to accumulate bitcoin.
- Metaplanet estimates a deferred tax asset of about $97 million, pending auditor confirmation.
Why it matters
Metaplanet's transactions give credit investors an example of a corporate bitcoin treasury being converted into cash. The company says it now intends to pursue a credit rating.
What's unclear
Metaplanet says auditors have not confirmed whether the estimated $97 million deferred tax asset can be recognized.
One report says the sale exceeded liabilities after adjusting for cash and stablecoins, the other says it exceeded the entire outstanding principal.
Price context · BTC
At publication
$86,149.00
Now
$86,068.00
Change since
−0.09%
7 days · dashed line = publication
Sources · 4 publishers
Decrypt
Tier 1
Metaplanet Sold 10,000 Bitcoin and Bought Back 11,000 to Prove a Point
The Block
Tier 1
Metaplanet sold 10,000 BTC in Q3 before buying back 11,000 BTC to ‘demonstrate liquidity’
CryptoPotato
Tier 2
Metaplanet Sold 10,000 BTC – Then Bought Back Even More: Here’s Why
Coverage timeline
- First reported by Bitcoin.com News
- Confirmed by Decrypt
- CryptoVideos brief published
- 1 more publisher added to sources
How this brief was made. Our system found this event in 4 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
