POPA Recon## Metaplanet Q3 Bitcoin holdings update
Net +1,000 BTC in Q3, ending at 44,000 BTC on Sept. 30
CEO Simon Gerovich announced Oct. 5 that in Q3 Metaplanet sold 10,000 BTC and repurchased 11,000 BTC:
> "We converted Bitcoin into cash, exceeding the total outstanding principal of our bonds, borrowings and other interest-bearing debt. We held that cash, then bought back more Bitcoin than we sold. Net, we added 1,000 BTC."
Holdings at Sept. 30: 44,000 BTC, described as making Metaplanet the 2nd-largest listed Bitcoin treasury company in the world.
Purpose stated by Gerovich: to answer rating agencies / credit investors — can that Bitcoin be turned into cash to meet obligations, and will it be? — "We answered by doing it."
Valuations cited in posts
BitcoinArchive: 1,000 BTC ~ $86M, 44,000 BTC ~ $3.78B
BitcoinMagazine: net +1,000 BTC worth $86M in Q3
Coinbureau: buyback 11,000 BTC ~ $870M, net +1,000 BTC ~ $79M
CoinDesk reported the same 10,000 sold / 11,000 bought / 44,000 held figures, and noted BTC was above $86,000 at the time, consistent with the ~$86M estimate for 1,000 BTC.
No later change to the Sept. 30 holdings figure has been found in news-wire events since Oct. 5.