✉news BusinessCrypto first seen 6 h ago, last 57 min ago, peak #5
Metaplanet Sold 10,000 Bitcoin, Then Bought 11,000 Back at a Loss
Original: Metaplanet Sold 10,000 Bitcoin for $790 Million, Then Bought 11,000 Back for $950 Million. What Was the Point?
Tokyo-listed Bitcoin treasury firm Metaplanet sold 10,000 BTC for roughly $790 million and then bought back 11,000 BTC for about $950 million, raising questions about the strategy. The round-trip cost the company more than $150 million on paper, and commentators are debating whether the move reflects tax, options or hedging logic, or simply a poorly timed trade.
Why now: The apparent $160 million cost of selling and repurchasing nearly the same Bitcoin holdings has struck observers as puzzling, prompting debate over the firm's motives.
Rank over time, top of the chart is #1. 5 snapshots from 6 h ago to 57 min ago.
Evidence
- Metaplanet Sold 10,000 Bitcoin for $790 Million, Then Bought 11,000 Back for $950 Million. What Was the Point? · Yahoo Finance
- Metaplanet Sold 10,000 Bitcoin for $790 Million, Then Bought 11,000 Back for $950 Million. What Was the Point? · 24/7 Wall St.
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