Metaplanet Sells 10,000 BTC to Prove Liquidity

Metaplanet sold 10,000 Bitcoin and repurchased 11,000 during the third quarter to demonstrate liquidity to credit rating agencies. This round trip increased total holdings to 44,000 BTC while generating a deferred tax asset of about $97 million. The company aims to secure a credit rating by proving it can convert Bitcoin into cash when obligations fall due.