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Metaplanet sold 10,000 bitcoin, then bought back 11,000

The Tokyo Stock Exchange-listed firm said it bought 1,000 bitcoin in the third quarter, keeping it as the second-largest corporate bitcoin holder.

Reported · Written up by our desk · Market Structure

Japanese bitcoin corporate holder Metaplanet said it sold 10,000 BTC in the prior quarter before buying back 11,000 coins, according to a filing reported by Bitcoin Magazine.

Metaplanet said the move was intended to demonstrate liquidity and to strengthen investors’ confidence in the company’s creditworthiness.

The company also said the transaction was aimed at broadening access to future financing, including corporate bonds and preferred shares, with the objective of increasing its bitcoin holdings, Bitcoin Magazine reported.

In the same filing, Metaplanet said it bought a total of 1,000 bitcoin in the third quarter of this year, which it said left it as the second biggest bitcoin treasury.

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