Metaplanet Ends Q3 With 44,000 $BTC After Buying Back More Than It Sold

Metaplanet is showing renewed conviction in Bitcoin after repurchasing 11,000 $BTC before the end of Q3.
The company had sold 10,000 $BTC earlier in the quarter, converting enough Bitcoin into cash to exceed its outstanding debt.
It then reversed course and bought back even more.
“We held that cash, then bought back more Bitcoin than we sold. Net, we added 1,000 BTC,” CEO Simon Gerovich said.
Metaplanet ended September 30 with 44,000 $BTC on its balance sheet.
The sequence suggests the earlier sale was more about balance-sheet flexibility and debt coverage than a change in the company’s long-term Bitcoin thesis.
By ending the quarter with more $BTC than it started with, Metaplanet effectively reduced financial risk while still increasing its net Bitcoin exposure.
For investors, the key takeaway is that the company continues treating $BTC as a core treasury asset rather than a temporary trade.