Metaplanet Increases Bitcoin Holdings to 44,000 BTC in Q3
- Metaplanet added a net of 1,000 bitcoin in the third quarter, totaling 44,000 BTC valued at $3.8 billion as of September 30.
- The firm sold 10,000 BTC for about $789.2 million at an average price of $78,925 per coin.
- It repurchased 11,000 BTC for $948.7 million at an average price of $86,246.
- Metaplanet’s total holdings have a cost basis of approximately $4.33 billion, averaging $98,454 per BTC.
- CEO Simon Gerovich stated the company’s goal is to establish itself as a leading Bitcoin financial company in Asia.
- The company introduced a Net Interest Income Strategy aiming to invest 10% to 15% of total assets in preferred securities issued by Bitcoin treasury companies.
This strategic move demonstrates Metaplanet’s commitment to liquidity and credit strength while expanding its Bitcoin holdings significantly during Q3. The company’s approach includes temporarily holding cash from sales to cover outstanding debts without repayment.
As of September end, Metaplanet holds 44,000 BTC, reflecting its aggressive strategy to enhance its position in the cryptocurrency market.(Source)
