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Metaplanet Sells 10,000 BTC and Repurchases 11,000 BTC to Demonstrate Liquidity
Metaplanet disclosed that it sold 10,000 BTC and subsequently purchased 11,000 BTC to demonstrate liquidity to prospective creditors. The Japanese treasury company received ¥124.7 billion from the sale and spent ¥149.9 billion on the repurchase. This resulted in an average purchase price that was roughly 9.3% higher per coin, creating an ¥11.57 billion difference before transaction costs and taxes. Metaplanet did not use the proceeds to repay existing borrowings or bonds, finishing September with 44,000 BTC in reserves. As of June, the firm held ¥67.49 billion in short-term borrowings alongside ¥8 billion in bonds payable within a year, compared to ¥1.09 billion in cash and deposits. Separately, Strategy reported approximately $5.71 billion in total cash and reserves as of October 4, including an unrestricted balance and funds dedicated to dividends and interest. Strategy held 848,000 BTC on its balance sheet.