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
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
