Metaplanet reported 44,000 BTC in its treasury as of September 30, 2026, a net increase of 1,000 BTC during the third quarter. That net figure masks a much larger two-way transaction: CoinDesk reported that the company sold 10,000 BTC and later reacquired 11,000 BTC.
What changed in Metaplanet’s bitcoin holdings?
Metaplanet’s quarter-end balance rose by a net 1,000 BTC to 44,000 BTC, according to figures reported by CoinDesk. The company’s disclosure index lists an October 5, 2026 notice titled “Notice of Additional Purchase of Bitcoin (Including Sale and Reacquisition of Bitcoin to Demonstrate Liquidity),” but the full notice text was not available in the retrieved materials.
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| Q3 transaction measure | Reported figure |
|---|---|
| Bitcoin sold | 10,000 BTC, reported by CoinDesk |
| Bitcoin reacquired | 11,000 BTC, reported by CoinDesk |
| Net change | +1,000 BTC, reported by CoinDesk |
| Holdings at September 30, 2026 | 44,000 BTC, reported by CoinDesk |
The transaction therefore was not simply a 1,000-BTC purchase. The reported sale and reacquisition totaled 21,000 BTC in gross activity, while the treasury ended the quarter 1,000 BTC larger than before.
Why did Metaplanet sell bitcoin and buy it back?
CoinDesk reported that Metaplanet temporarily held cash from the sale to demonstrate liquidity and strengthen its credit profile. The report said the proceeds were not used to repay the interest-bearing obligations it cited. This is the company’s reported rationale, not evidence that it permanently reduced its bitcoin treasury or used the cash to pay down debt.
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What prices did Metaplanet report for the transactions?
CoinDesk reported an average sale price of $78,925 per BTC and an average reacquisition price of $86,246 per BTC. It also reported approximately $789.2 million in aggregate sale value and approximately $948.7 million in repurchase spending.
Those averages show that the reacquired bitcoin was bought at a higher reported average price than the bitcoin sold. They do not, on their own, establish a realized loss: that conclusion would depend on the accounting treatment and the full transaction disclosures, which were not available here. CoinDesk separately reported Metaplanet’s total bitcoin cost basis at approximately $4.33 billion, or an average of $98,454 per BTC.
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How does the transaction fit Metaplanet’s broader strategy?
CoinDesk reported that Metaplanet announced a Net Interest Income Strategy focused principally on preferred securities issued by bitcoin treasury companies. The report put the target allocation for investments under that strategy at approximately 10% to 15% of total assets. The company’s disclosure index lists related strategy and Q3 FY2026 business-results notices, but the detailed allocation and strategy figures here are attributed to CoinDesk’s October 5, 2026 account.
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In the same report, CoinDesk attributed this statement to CEO Simon Gerovich: “Our objective has been to build the leading Bitcoin financial company in Asia,”
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