Metaplanet Sold 10,000 Bitcoin, Then Bought 11,000 Back. Here’s Why

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. TL;DR: Metaplanet disclosed that it sold 10,000 BTC during the third quarter for roughly $790 million before buying 11,000 BTC for around $950 million. The company says the exercise was designed to demonstrate that its Bitcoin treasury can provide liquidity when required, while leaving it with a net increase of 1,000 BTC. Bitcoin treasury companies are usually judged by how much BTC they buy. Metaplanet has just demonstrated something different: how quickly a very large Bitcoin position can be converted into liquidity and then rebuilt. The Japanese-listed company disclosed that during the third quarter it sold 10,000 BTC for approximately ¥124.7 billion, or around $790 million. It subsequently purchased 11,000 BTC for roughly ¥149.9 billion, equivalent to around $950 million. The result was unusua...