Metaplanet reported a bitcoin reserve of 44,000 BTC as of September 30, following a series of transactions in the third quarter. The company sold 10,000 BTC and subsequently purchased 11,000 BTC to test liquidity and convertibility of its assets into cash.
The firm aims to improve its credit profile and obtain an official credit rating by demonstrating the liquidity of its primary reserve asset. Metaplanet plans to finance future acquisitions primarily through permanent capital, while limiting debt to approximately 10% of the net value of its crypto assets.
The company updated its capital allocation policy, targeting 85-90% of assets in bitcoin. The remaining 10-15% will be directed toward M&A and income-generating assets, funded by bonds and preferred shares to avoid equity dilution. Metaplanet previously reduced its management option pool by 41% in September.
Under its 555 Million Plan, the company targets 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027. Additionally, Metaplanet expects to close a deal with US-based Super League Enterprise in the fourth quarter, involving a contribution of 2,100 BTC and $2.5 million.
