Metaplanet Sold 10,000 BTC – Then Bought Back Even More: Here’s Why
• Metaplanet sold 10,000 BTC for approximately $790 million to demonstrate the liquidity of its bitcoin treasury, then repurchased 11,000 BTC, increasing its total holdings to 44,000 BTC.
• The sale's proceeds exceeded the company's liabilities, showcasing its ability to monetize BTC to cover obligations, as part of a strategy to obtain a credit rating and expand financing options.
• The transaction resulted in a US tax capital loss, potentially creating a deferred tax asset of around $97 million, while Metaplanet also invested in transferring BTC to a US Bitcoin treasury platform.
https://cryptopotato.com/metaplanet-sold-10000-btc-then-bought-back-even-more-heres-why/
• Metaplanet sold 10,000 BTC for approximately $790 million to demonstrate the liquidity of its bitcoin treasury, then repurchased 11,000 BTC, increasing its total holdings to 44,000 BTC.
• The sale's proceeds exceeded the company's liabilities, showcasing its ability to monetize BTC to cover obligations, as part of a strategy to obtain a credit rating and expand financing options.
• The transaction resulted in a US tax capital loss, potentially creating a deferred tax asset of around $97 million, while Metaplanet also invested in transferring BTC to a US Bitcoin treasury platform.
https://cryptopotato.com/metaplanet-sold-10000-btc-then-bought-back-even-more-heres-why/