Metaplanet Sold Bitcoin in Q3 to Demonstrate Liquidity to Investors

Metaplanet, a Japanese firm that holds bitcoin, stated that any sales over the last quarter were only intended to prove to shareholders that it had the ability to liquidate assets if necessary.

The company, which is listed on the Tokyo Stock Exchange, disclosed in a Monday filing that it acquired 1,000 bitcoin during Q3, making it the second-largest corporate bitcoin holder.

Metaplanet on Monday said regarding its sale: “The transaction was intended to strengthen confidence in the company’s creditworthiness and broaden its access to future financing, including corporate bonds and preferred shares, with the ultimate objective of increasing the group’s bitcoin holdings.”

The news from Metaplanet arrives at a time when bitcoin’s price is climbing, benefiting companies that hold large amounts of the cryptocurrency. Last year, the strategy of purchasing and retaining bitcoin with surplus cash was hurt by a sharp decline in crypto values.

As the leading digital asset recovers, firms following this approach are observing their share prices rise once more.

Shares of Metaplanet advanced on Monday. While the stock has fallen since the start of the year, it has gained ground over the last 30 days.

According to the filing, Metaplanet sold 10,000 bitcoin for about $789.2 million and then bought 11,000 bitcoin at an average price of $86,246 each, spending $948.7 million in total during Q3 2026.

Metaplanet stated: “Accordingly, the sale in the Transactions was not merely a formal disposal of bitcoin.”

“It demonstrated, through an actual transaction, that the Group can convert its bitcoin into cash and hold cash in excess of the aggregate outstanding principal amount of its bonds, borrowings and other interest-bearing liabilities.”

Chief Executive Officer Simon Gerovich posted on X: “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.”

Metaplanet, frequently described as the Asian counterpart to Nasdaq-listed bitcoin holder Strategy, shifted away from its original hotel and technology operations to acquire bitcoin starting in 2024.

Currently, Metaplanet is the second-largest corporate owner of bitcoin, trailing only Strategy. It holds 44,000 coins on its books, valued at $3.7 billion based on current market prices.