Metaplanet Sells 10,000 BTC and Buys Back 11,000; Strategy Hits 848,000 BTC
- —Metaplanet sold 10,000 BTC for $760 million and bought back 11,000 BTC for $900 million
- —Metaplanet's net holdings rose by 1,000 BTC to 44,000 coins
- —Strategy purchased 334 BTC at an average price of $85,839, total now 848,000 BTC
- —US spot Bitcoin ETFs saw $89.8 million in net outflows; IBIT attracted $69.9 million
Why it matters: Metaplanet proved to lenders and rating agencies that its Bitcoin reserves can be converted to cash, reducing risks for corporate BTC treasuries.
Source: Crypto News Australia