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Home›Crypto›Market Structure›Metaplanet sells 10,000 BTC and buys back 11,000 in Q3

Metaplanet sells 10,000 BTC and buys back 11,000 in Q3

The company said the round trip was meant to show credit investors it can turn Bitcoin into cash to meet obligations.

Reported · Written up by our desk · Market Structure

Metaplanet, a Tokyo-listed treasury company, sold 10,000 BTC and bought back 11,000 BTC during the third quarter, according to a company disclosure reviewed by Decrypt.

The move left Metaplanet with a net gain of 1,000 BTC, taking its Bitcoin holdings to 44,000 BTC as of September 30.

Metaplanet described the transaction as a demonstration for credit rating agencies and bond investors, which it said focus on whether a Bitcoin issuer can actually sell when obligations fall due.

Decrypt noted that the company framed the action as answering the question of whether its Bitcoin can be turned into cash, with CEO Simon Gerovich writing that it did so by completing the buy and sell round trip.

Latest closeBitcoin $85,228.88 ▼1.4%

← Newer storyMetaplanet sold 10,000 BTC in Q3 before buying back 11,000 BTC

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Sources

DecryptMetaplanet Sold 10,000 Bitcoin and Bought Back 11,000 to Prove a Point

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