Market News / Story
Metaplanet Sold 10,000 Bitcoin, Then Bought 11,000 Back. Here’s Why
NewsBTC ·
NewsBTC reports: 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…