{"id":14102,"date":"2026-10-05T16:40:47","date_gmt":"2026-10-05T16:40:47","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14102"},"modified":"2026-10-05T16:40:47","modified_gmt":"2026-10-05T16:40:47","slug":"metaplanet-sold-10000-bitcoin-in-a-credit-rating-bid-only-to-buy-back-11000-btc-at-a-higher-price-per-coin","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14102","title":{"rendered":"Metaplanet sold 10,000 Bitcoin in a credit-rating bid, only to buy back 11,000 BTC at a higher price per coin"},"content":{"rendered":"

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Metaplanet sold 10,000 Bitcoin and later bought back 11,000 BTC to strengthen its credit profile and expand beyond accumulation during the third quarter.<\/p>\n

The Tokyo-listed company said it converted enough Bitcoin into cash during the third quarter to exceed the outstanding principal of its bonds, borrowings, and other interest-bearing debt. It subsequently rebuilt the position at a higher Bitcoin price, ending Sept. 30 with 44,000 BTC, up a net 1,000 for the quarter.<\/p>\n

The transaction forms part of a broader attempt to convince rating agencies and fixed-income investors that Metaplanet’s Bitcoin reserves can be monetized when obligations come due.<\/p>\n

The company plans to seek a credit rating and use a stronger financing profile to support a new business that borrows through bonds, preferred stock and Bitcoin-backed facilities before investing in higher-yielding assets.<\/p>\n

The liquidity demonstration came at a price<\/h2>\n

Bitcoin rose between Metaplanet’s sale and repurchase, leaving the company paying substantially more to rebuild the position it had sold.<\/p>\n

According to the preliminary, unaudited figures in its statement, Metaplanet disposed of 10,000 BTC at an average price of \u00a512.47 million per coin, generating \u00a5124.7 billion in proceeds. It later purchased 11,000 BTC at an average price of \u00a513.63 million per coin, spending \u00a5149.9 billion.<\/p>\n

The roughly \u00a51.16 million difference between the sale and repurchase prices implies an adverse price differential of about \u00a511.57 billion on the 10,000 BTC needed to replace the original position. Metaplanet said the higher reacquisition price reflected Bitcoin’s rise between the two transactions.<\/p>\n

The company said it conducted the transactions separately rather than as a simultaneous exchange. It first sold the Bitcoin, held the proceeds in cash, and only later repurchased the asset, a sequence intended to demonstrate that its reserves could actually be converted into cash rather than merely pointing to Bitcoin’s market liquidity.<\/p>\n

That distinction is central to Metaplanet’s push into credit markets. The company said rating agencies and fixed-income investors can discount Bitcoin’s liquidity value if an issuer is unwilling to sell it when required. Metaplanet wants the Q3 transaction to show creditors that its long-term accumulation strategy does not prevent management from monetizing Bitcoin to meet financial obligations.<\/p>\n

The sale also produced a US capital-loss carryforward. Metaplanet estimates subsidiaries of its US holding company could recognize a deferred tax asset of about $97 million, potentially available to offset future capital gains. The estimate remains subject to closing procedures and auditor review, and the company said the asset may ultimately be smaller or not recognized at all.<\/p>\n

Metaplanet said the tax treatment could offset some or all of the effect of the gap between its sale and repurchase prices and transaction costs if it recognizes the deferred tax asset.<\/p>\n

Metaplanet wants to turn cheaper funding into recurring income<\/h2>\n

The company plans to use any improvement in credit access for more than financing additional Bitcoin purchases.<\/p>\n