Metaplanet Sold 10,000 Bitcoin and Bought Back 11,000 to Prove a Point
Rating agencies ask if a Bitcoin company will actually sell when obligations fall due. "We answered by doing it," said CEO Simon Gerovich.
Metaplanet has unveiled a new capital allocation strategy aimed at boosting its Bitcoin holdings. The Japanese investment firm has proposed allocating up to 15% of its assets towards strategic investments, with a focus on income-generating assets that would generate net interest income to support its Bitcoin accumulation and dividend payments.
Currently, Bitcoin constitutes the majority of the company’s treasury reserves, accounting for 85-90% of its total assets. This move comes in response to shareholder concerns about the company's governance and complex capital structure, following the issuance of five corrected securities filings on Friday. The revised policy aims to enhance Metaplanet's financing capacity and credit quality, enabling it to increase its Bitcoin holdings per share through additional acquisitions.
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- Metaplanet reveals net income strategy to fuel Bitcoin accumulation cointelegraph.com
