Japanese Bitcoin Treasury Metaplanet Sold BTC Last Quarter To Demonstrate Liquidity
By Mathew Di Salvo
AI summary of the source article
Tokyo-listed Metaplanet disclosed that it sold 10,000 Bitcoin for approximately $789.2 million before acquiring 11,000 BTC for $948.7 million, achieving a net gain of 1,000 BTC. According to CEO Simon Gerovich, the move was designed to prove that the company could convert its holdings to cash exceeding its total outstanding interest-bearing debt, thereby strengthening creditworthiness and future financing access. Metaplanet now holds 44,000 coins valued at around $3.7 billion, solidifying its position as the second-largest corporate Bitcoin holder globally behind Strategy.
Why it matters
The maneuver was designed to show the company can convert holdings into cash exceeding its debt liabilities, bolstering its creditworthiness to access future bond and equity financing.
Key facts
- Metaplanet sold 10,000 BTC for $789.2 million before buying 11,000 BTC for $948.7 million, adding a net 1,000 BTC.
- The sale was conducted to prove the firm could hold cash exceeding its aggregate bonds, borrowings, and interest-bearing liabilities.
- Metaplanet holds 44,000 BTC worth $3.7 billion, making it the second-largest corporate Bitcoin treasury behind Strategy.