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METAPLANET'S BITCOIN RETURN FEE
Selling something turns it into money you can spend. That ability is called liquidity: your bills need cash, not a photograph of your investments. According to Cointelegraph, Meta...
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The story, straight
Selling something turns it into money you can spend. That ability is called liquidity: your bills need cash, not a photograph of your investments.
According to Cointelegraph, Metaplanet sold 10,000 bitcoin for 124.7 billion yen, then spent 149.9 billion yen buying 11,000 bitcoin. It paid about 9.3% more per coin on average.
The company said the sale demonstrated to rating agencies and bond investors that it could turn bitcoin into cash to meet financing obligations. Those groups assess borrowers or lend them money through bonds.
Imagine selling your office chair to prove you can pay rent, then paying extra to sit down again. Congratulations: your furniture has charged you admission.
Keep the losses separate. Cointelegraph reports a $119.8 million loss on the sale against its recorded value, plus a $50.3 million decline in the value of bitcoin still held.
Both were already included in the roughly $170 million total net loss for the 9 months through September 2026. That total is not the cost of selling and buying back.
Holdings ended September at 44,000 bitcoin, up a net 1,000. The useful lesson: compare what each coin cost, not just how many coins came home.
Source: https://cointelegraph.com/news/metaplanet-swings-170m-loss-bitcoin-sale-earnings
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The absurd
Why this is ridiculous
Metaplanet paid 9.3% more per coin, according to Cointelegraph.
The breakdown
How it breaks down
Selling bitcoin raises cash; buying it back spends that cash.
The upside
Why it could matter
Check sale losses separately from Metaplanet's overall business losses.
Sources
https://cointelegraph.com/news/metaplanet-swings-170m-loss-bitcoin-sale-earnings


