✉news BusinessCrypto first seen 22 h ago, last 11 h ago, peak #5
Metaplanet Sells 10,000 Bitcoin Then Buys 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 repurchased 11,000 BTC for about $950 million, ending up with more coins but a paper cost of around $160 million on the round trip. Commentators are questioning the logic of the manoeuvre, which observers say may relate to options strategy, tax treatment or balance-sheet optics.
Why now: The apparent $160 million cost of the buyback round trip has drawn scrutiny of Metaplanet's Bitcoin treasury strategy.
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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