 | Metaplanet said the group sold 10,000 BTC for aggregate proceeds of JPY 124.7 billion ($790 million). It then bought 11,000 BTC for JPY 149.896 billion ($950 million). The higher reacquisition price reflected a rise in the market between the two legs, with a net increase of 1,000 BTC in its Bitcoin holdings. “We converted Bitcoin into cash, exceeding the total outstanding principal of our bonds, borrowings and other interest-bearing debt. We held that cash, then bought back more Bitcoin than we sold,” said CEO Simon Gerovich. [link] [comments] |
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