Metaplanet Reports $605 Million Loss After Billions Spent on Bitcoin

TLDR Metaplanet posted a $605 million loss due to the decline in Bitcoin’s value. The company spent $3.8 billion on Bitcoin, purchasing the asset at an average price of $107,000 per coin. Metaplanet’s Bitcoin holdings are currently down by 37%, reflecting an unrealized loss of $1.4 billion. Despite the losses, the company saw an 81% [...]

The post Metaplanet Reports $605 Million Loss After Billions Spent on Bitcoin appeared first on Blockonomi.