Metaplanet Ends Q3 With 44,000 BTC After $870 Million Bitcoin Buyback
Metaplanet ended the third quarter with 44,000 Bitcoin after buying back 11,000 BTC worth roughly $870 million by the end of September, according to information shared by Coin Bureau.
Metaplanet Adds More Bitcoin After Selling
The Japanese company sold 10,000 BTC during the quarter before returning to the market with a larger purchase. By the end of September, Metaplanet had acquired 11,000 BTC, leaving it with a net increase of 1,000 BTC compared with the amount it had sold during the quarter.
The 11,000 BTC purchase was worth roughly $870 million, while the additional 1,000 BTC that Metaplanet accumulated on a net basis was valued at roughly $79 million.
Metaplanet CEO Simon Gerovich explained the company's approach, saying, “We held that cash, then bought back more Bitcoin than we sold. Net, we added 1,000 BTC.”
Bitcoin Holdings Reach 44,000 BTC
The transactions left Metaplanet with 44,000 Bitcoin at the end of Q3. The final holdings reflect the company's return to Bitcoin purchases after selling 10,000 BTC during the quarter and subsequently acquiring 11,000 BTC by the end of September.
The figures show that the company ultimately increased its Bitcoin holdings despite the earlier sale. The 1,000 BTC difference between the amount sold and the amount later purchased represents the net addition to Metaplanet's holdings during the period markets described by Coin Bureau.
Metaplanet's reported 44,000 BTC balance at the end of Q3 follows the 11,000 BTC buyback completed by the end of September.