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.
Corporate Bitcoin holdings have been treated as a straightforward signal for years: a company buys BTC, investors read it as conviction, and the stock trades with a built-in Bitcoin premium. While this might sound like a very clear and simple trade, the balance sheets behind it are anything but. A new CoinTab dataset shows that […]
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