A Firm Sold Its Bitcoin—and Left Shareholders With More Crypto Per Share
One public company trimmed its Bitcoin stash by nearly 1%. Thanks to stock buybacks, each share now carries more crypto than before.
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Key takeaways
- A public firm decreased its total Bitcoin treasury by 0.93%.
- Share repurchases reduced the company's outstanding stock count by 2.04%.
- Net Bitcoin exposure per outstanding share grew by 1.13%.
A public firm just pulled off a neat treasury trick. It dumped a chunk of its Bitcoin reserve, but each remaining share now holds more crypto than before.
The company trimmed its total Bitcoin holdings by 0.93%. Selling coins usually waters down an investor's crypto exposure. Not this time. Simultaneously, the firm bought back its own stock, cutting its outstanding share count by roughly 2.04%.
The share count shrank much faster than the Bitcoin stack did. Do the math, and existing investors come out ahead: the amount of Bitcoin backing each share actually rose by 1.13%.
Why it matters
If you're using stock as a back-door bet on crypto, raw coin purchases aren't the only metric that counts. Buybacks can bump your Bitcoin exposure even when corporate treasuries shrink. Turns out basic financial engineering can squeeze extra crypto into a single share without spending a dime on new tokens.
Source: CryptoSlate
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Alex covers crypto markets and trading, testing every platform hands-on before writing about it.
