Why Metaplanet Sells 10,000 BTC and Buys Back 11,000 BTC in Q3?
Q3 Bitcoin Trade Disclosed on October 5
On October 5, 2026, a Japan-listed Bitcoin treasury firm disclosed a quarterly trade. The notice explains why Metaplanet sells 10,000 BTC yet ends Q3 with more coins. This crypto news report covers the figures, the stated goal, and the open risks.
Sale and Buyback Numbers at a Glance
The notice covers the third quarter, which ended on September 30, 2026. Metaplanet sells 10,000 BTC first, holds the cash, and then buys coins back separately. The company calls every figure preliminary and unaudited.
Item | Figure |
Sold | 10,000 at ¥12,470,098 each |
Sale proceeds | ¥124.7 billion (about $790 million) |
Bought | 11,000 at ¥13,626,928 each |
Purchase cost | ¥149.9 billion (about $950 million) |
Net additions | 1,000 |
Total holdings on September 30 | 44,000 |
Average cost of all holdings | ¥15,555,717 each |
Dollar values are approximate conversions at the ¥157.35 rate cited in the notice. The notice sets a reference price of US$83,576.82 per coin for September 30. Holdings stood at 43,000 on June 30, before the quarter began.
Source: Official Report
Why the Company Tested Bitcoin Liquidity
Bitcoin trades easily on open markets. Still, rating agencies and bond buyers also ask whether an issuer will actually sell. The company points to a published rating of an overseas peer. That case suggests unsold coins may earn limited credit.
In short, Metaplanet sells 10,000 BTC to show lenders it can raise cash. The proceeds exceeded all bonds, borrowings, and other interest-bearing debt. Those debts were not repaid and stay on existing terms.
The company aims to pursue a credit rating next. It wants wider access to bonds and preferred shares, which pay set dividends first. The notice gives no assurance of a rating or of future financing terms.
Four pillars: cash flow, market access, balance sheet assets, and its own issuance platform.
Revenue record: Its Bitcoin Income Generation unit booked revenue for eight straight quarters.
Q3 figure: that unit recorded revenue of about ¥848 million.
BTC Yield: growth in Bitcoin per share reached 11.3% in Q3, up from 6.6% in Q2.
Capital Loss and Accounting Effects Remain Open
Coins sold below their purchase cost create a capital loss for US tax purposes. When Metaplanet sells 10,000 BTC at a loss, that loss can carry forward.
The company estimates a related deferred tax asset near US$97 million. A deferred tax asset is a future saving recorded on the balance sheet.
The auditor has not confirmed that estimate. It may not be recognized, and the final amount may differ materially. The company measures coins at fair value, so the tax loss alone adds no accounting loss.
Source: The Block X Post
Expert Opinion: A Liquidity Proof With a Price Gap
The fact that Metaplanet sells 10,000 BTC does not signal an exit, according to the notice. The plan to grow holdings over the medium to long term is unchanged.
Routine selling is not its basic policy, though future sales are not ruled out. The buyback price sat about 9% above the sale price, based on those figures. The company says a recognized asset could offset part of that gap.
Readers should treat the rating plan as an aim, not a result. The audit and future capital gains will decide how useful the benefit becomes.
What the Q3 Earnings Release Will Confirm
The next checkpoint is the Q3 earnings release. It will confirm the audited tax and accounting results. Until then, every figure stays preliminary.
Metaplanet sells 10,000 BTC as a stated liquidity test, so future rating news is worth watching.
YMYL Disclaimer: This article is for educational and informational purposes only. It is not financial advice, a price prediction, or a guarantee of returns. Crypto assets are volatile, and readers should do their own research before making any decision.
