Metaplanet posts net purchase of 1,000 BTC in third quarter

Japan-listed Bitcoin treasury company Metaplanet said it made a net purchase of 1,000 BTC in the third quarter of its December fiscal year. The company sold 10,000 BTC and later repurchased 11,000 BTC, bringing its total Bitcoin holdings to 44,000 as of Sept. 30, according to a disclosure. Metaplanet also said it revised its capital allocation policy to keep around 85% to 90% of total assets in BTC. The company said it will continue to hold BTC as its most important treasury reserve asset and treat allocating roughly 85% to 90% of total assets to Bitcoin as a core principle, while planning to use the remaining roughly 10% to 15% for strategic investments tied to building a Bitcoin-based financial platform. Those strategic investments include mergers and acquisitions, yield-generating assets such as overseas Bitcoin-related securities, and investments in asset management businesses.