Metaplanet added 1,000 bitcoin net in the third quarter bringing holdings to 44,000 BTC

Bitcoin treasury firm Metaplanet (3350) added a net 1,000 bitcoin in the third quarter, bringing its holdings to 44,000 $BTC ($3.8 billion) as of Sept. 30, following a sale and repurchase designed to demonstrate liquidity and strengthen its credit profile.

The Japanese company sold 10,000 $BTC for approximately $789.2 million, averaging $78,925 per coin, before purchasing 11,000 $BTC for $948.7 million at an average of $86,246.

Metaplanet temporarily held the proceeds in cash to demonstrate that it could cover outstanding interest-bearing debt, although those obligations were not repaid. It subsequently repurchased bitcoin at higher prices. Its total holdings have a cost basis of approximately $4.33 billion, averaging $98,454 per $BTC.

CEO Simon Gerovich said the announcements reflected ambitions beyond accumulating bitcoin. “Our objective has been to build the leading Bitcoin financial company in Asia,” he said.

The company also introduced a Net Interest Income Strategy, targeting investments principally in preferred securities issued by bitcoin treasury companies. It plans to allocate approximately 10% to 15% of total assets to these investments, seeking returns above its funding costs to service obligations and support further bitcoin purchases.

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.

Metaplanet shares closed 2% higher on Monday at 297 yen ($1.88).