Mmastodon BusinessCrypto first seen 13 h ago, last 10 h ago, peak #2

Metaplanet sells 10,000 Bitcoin to win credit rating credibility

Original: Tokyo-listed Metaplanet sold 10,000 Bitcoin and repurchased 11,000 coins at a premium, eating a ¥11.57B differential. Th

Tokyo-listed Metaplanet sold 10,000 Bitcoin and repurchased 11,000 coins at a premium, taking a ¥11.57 billion loss on the transaction. The move was executed to demonstrate to rating agencies that the company is willing to liquidate its crypto reserves to cover debt, aiming for a stronger credit profile so it can borrow more cheaply.

Why now: People are discussing the unusual step of a Bitcoin treasury company selling holdings at a loss to improve its creditworthiness.

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Rank over time, top of the chart is #1. 3 snapshots from 13 h ago to 10 h ago.

Evidence

• Tokyo-listed Metaplanet sold 10,000 Bitcoin and repurchased 11,000 coins at a premium, eating a ¥11.57B differential. The firm executed this to prove to rating agencies it'll actually liquidate crypto reserves to cover debt. They want a stronger credit profile to borrow cheap… · zubiqo

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