To prove that Bitcoin can be converted to cash at any time, Metaplanet sold 10,000 BTC and then bought back 11,000 at a higher price, recording a loss of about 19.2 billion yen on the sale
On November 13, Tokyo-listed Bitcoin treasury company Metaplanet released its financial results for the first three quarters of 2026. The most closely watched item was a “sell first, buy later” Bitcoin transaction in the third quarter.
The financial report showed that the company sold 10,000 BTC at an average price of about 12.47 million yen per coin, aiming to prove that it could convert its Bitcoin holdings into cash at any time. The proceeds were roughly equivalent to the company’s outstanding bonds, borrowings, and preferred shares. The company then bought back 11,000 BTC in several transactions at an average price of about 13.63 million yen per coin. The two transactions increased its holdings by a net 1,000 BTC, bringing its total holdings to 44,000 BTC as of September 30, but the sale resulted in a recognized loss of about 19.2 billion yen.
As a result, the company recorded a net loss attributable to shareholders of about 27.2 billion yen for the first three quarters. Its full-year revenue forecast was also cut from 16 billion yen to 6.5 billion yen. Proceeds from the 52 billion yen in convertible bonds issued in October will be used primarily to buy back shares, leaving less money available for further Bitcoin purchases.
The BTC market was also weak. At around 1 p.m. on November 13, spot BTC on Binance briefly fell to $67,568, its lowest level since August 19. At 00:50 on November 14 (UTC+8), it was trading at around $68,600, down about 4% over 24 hours.
For a company whose selling point is its long-term Bitcoin holdings, selling coins voluntarily to demonstrate liquidity and then buying them back at a higher price has also prompted many to take another look at the pressure treasury companies face when the market weakens.
#BTC #Metaplanet #比特币 Does not constitute investment advice.
On November 13, Tokyo-listed Bitcoin treasury company Metaplanet released its financial results for the first three quarters of 2026. The most closely watched item was a “sell first, buy later” Bitcoin transaction in the third quarter.
The financial report showed that the company sold 10,000 BTC at an average price of about 12.47 million yen per coin, aiming to prove that it could convert its Bitcoin holdings into cash at any time. The proceeds were roughly equivalent to the company’s outstanding bonds, borrowings, and preferred shares. The company then bought back 11,000 BTC in several transactions at an average price of about 13.63 million yen per coin. The two transactions increased its holdings by a net 1,000 BTC, bringing its total holdings to 44,000 BTC as of September 30, but the sale resulted in a recognized loss of about 19.2 billion yen.
As a result, the company recorded a net loss attributable to shareholders of about 27.2 billion yen for the first three quarters. Its full-year revenue forecast was also cut from 16 billion yen to 6.5 billion yen. Proceeds from the 52 billion yen in convertible bonds issued in October will be used primarily to buy back shares, leaving less money available for further Bitcoin purchases.
The BTC market was also weak. At around 1 p.m. on November 13, spot BTC on Binance briefly fell to $67,568, its lowest level since August 19. At 00:50 on November 14 (UTC+8), it was trading at around $68,600, down about 4% over 24 hours.
For a company whose selling point is its long-term Bitcoin holdings, selling coins voluntarily to demonstrate liquidity and then buying them back at a higher price has also prompted many to take another look at the pressure treasury companies face when the market weakens.
#BTC #Metaplanet #比特币 Does not constitute investment advice.
