Japanese Bitcoin treasury company Metaplanet acquired a net 1,000 Bitcoin in the third quarter, raising its holdings to 44,000 BTC worth around $3.8 billion as of September 30. It reached that figure by selling 10,000 BTC for roughly $789.2 million and then bought 11,000 BTC for $948.7 million.
Metaplanet said the interim sell was intended at showing liquidity and enhancing its credit profile, rather than diminishing its long-term Bitcoin exposure. The company ultimately bought back more Bitcoin at higher prices, while CEO Simon Gerovich said Metaplanet’s broader goal is to become Asia’s leading Bitcoin financial company.
I have two important updates to share with you today as we continue to build Metaplanet into a global financial platform rooted in Bitcoin.
From the beginning, our strategy was never simply to accumulate Bitcoin. Our objective has been to build the leading Bitcoin financial company in Asia and, over time, become one of the leading Bitcoin financial institutions in the world.
Over the past year, we have worked to execute that strategy with discipline and speed: growing our Bitcoin reserves, expanding our operating businesses, broadening our access to capital, and laying the foundation for a scalable credit platform built around Bitcoin.
The pending Superplanet transaction, the development of Metaplanet Securities, the expansion of our distribution capabilities, and the continued growth of our Bitcoin holdings are all components of a unified long-term strategy.
Here are the latest steps on this journey:
– First, in the third quarter we executed a sale and repurchase of Bitcoin that demonstrated the liquidity of our Bitcoin reserves and increased our overall Bitcoin position.
– Second, we are launching a Net Interest Income Strategy designed to create recurring income streams and lower our effective cost of capital, supporting the next phase of our growth.
Rating agencies and credit investors ask one question of a Bitcoin company: can that Bitcoin be turned into cash to meet obligations, and will it be? We answered by doing it. We converted Bitcoin into cash, exceeding the total outstanding principal of our bonds, borrowings and other interest-bearing debt. We held that cash, then bought back more Bitcoin than we sold.
Net, we added 1,000 BTC.
As of September 30, Metaplanet held 44,000 BTC, making us the second-largest listed Bitcoin treasury company in the world. Metaplanet has generated revenue from its Bitcoin Income Generation business for eight consecutive quarters, has expanded its strategic footprint through acquisitions and new business initiatives, and has now demonstrated that its Bitcoin can be converted into cash when needed, an important step in our march to realizing our potential in Japan and beyond.
We continue to execute on our goal: Building a world-class Bitcoin financial institution. And we will continue to update you as we move ahead with additional value-creating initiatives.
Full details are in the four TSE disclosures released today.
— Simon Gerovich (@gerovich) October 5, 2026
At an average price of almost $78,925 per Bitcoin, the 10,000-Bitcoin sale was finished. At an average price of about $86,246, Metaplanet subsequently repurchased 11,000 BTC. A net increase of 1,000 Bitcoin was made throughout the quarter as a result of the action.
For a short period, the company kept the proceeds from the sale in cash. Metaplanet said this demonstrated that it had enough liquidity to cover its outstanding interest-bearing debt. The debt itself was not repaid, however. The company subsequently returned to the Bitcoin market and bought more coins.
*Notice of Additional Purchase of Bitcoin (Including Sale and Reacquisition of Bitcoin to Demonstrate Liquidity)* https://t.co/ctW3D4hVXG
— Metaplanet Inc. (@Metaplanet) October 5, 2026
Despite the latest accumulation, Metaplanet’s overall cost basis is considerably higher than the current value of its holdings. The company said its 44,000 BTC were acquired for approximately $4.33 billion, giving an average cost of about $98,454 per Bitcoin.
CEO Simon Gerovich said the company is looking beyond simply building a large Bitcoin reserve. Metaplanet wants to develop a broader financial business around Bitcoin. “Our objective has been to build the leading Bitcoin financial company in Asia,” Gerovich said.
As part of that strategy, Metaplanet has introduced a Net Interest Income Strategy. The company plans to invest mainly in preferred securities issued by other Bitcoin treasury companies. It expects to allocate around 10% to 15% of its total assets to these investments.
The idea is relatively straightforward: Metaplanet wants to earn returns from these investments that are higher than its own funding costs. The additional income could then help the company meet its financial obligations and support further Bitcoin purchases.
Meanwhile, Metaplanet’s existing Bitcoin income business had a weaker quarter. Its options-based Bitcoin Income Generation business produced about $5.4 million in revenue during the third quarter. That was 51% lower than in the previous quarter and 65% below the same period last year.
*Notice Regarding the Q3 FY2026 Results of the Bitcoin Income Generation Business* https://t.co/0hVrNA1u0L
— Metaplanet Inc. (@Metaplanet) October 5, 2026
Even so, the business has continued to generate revenue. Metaplanet reported about $35.2 million in revenue during the first nine months of the year, marking its eighth consecutive quarter of revenue generation.
The latest results show that Metaplanet is gradually moving beyond the simple “buy and hold Bitcoin” model. The company is trying to combine Bitcoin accumulation with income-generating strategies and financial investments, while maintaining its position as one of Asia’s most prominent corporate Bitcoin holders.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment