0 sats \ 1 reply \ @Wumbo 9 Apr \ on: japanese firm Metaplanet buys BTC mirroring MicroStrategy's strategy econ
https://markets.businessinsider.com/news/currencies/metaplanet-shares-soar-as-japanese-firm-mimics-microstrategy-on-bitcoin-buying-1033232679?op=1
Metaplanet (3350), a Web3 infrastructure provider, saw its Tokyo-listed stock rise almost 90% in two days after saying it was adding $6.56 million in bitcoin {{BTC}} to its balance sheet in partnership with Sora Ventures, Morgan Creek Capital's Mark Yusko and others.
I am not sure I fully understand the arraignment here. Did MetaPlanet sell equity to Sora Ventures, Morgan Creek Capital's Mark Yusko and others to raise the funds for the BTC purchase?
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10 sats \ 0 replies \ @IgnaciobTato OP 9 Apr
They added BTC in their Balance Sheet and the stocks rised as it listed in the Japanese Stock Exchange.
The way they added BTC in their Balance Sheet will be clarified. Like MS some information about their BTC management is not revealed due to security reasons.
Also official information:
https://twitter.com/JasonSoraVC/status/1777300574939058202?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1777300574939058202%7Ctwgr%5E4e8115805e2e8841a247a5a02fb3de58c330a364%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coindesk.com%2Fmarkets%2F2024%2F04%2F09%2Fmetaplanet-shares-soar-as-japanese-firm-mimics-microstrategy-on-bitcoin-buying%2F
https://twitter.com/Metaplanet_JP/status/1777243921867014574
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