2,100 BTC for a U.S. stock-market shell
Metaplanet’s shareholders have officially approved the deal: 2,100 bitcoins plus $2.5 million in cash in exchange for approximately 95.7% of SLE’s common shares, for a total consideration of $134.6 million, or $3 per share.
Once the U.S. stock-market financing channel opens, expectations of additional share issuance to buy bitcoin will be priced in before the deal actually closes. In the short term, as long as the previous high holds as support, any pullback is a zone for bulls to add to their positions, and a test of higher resistance is more likely. If support breaks, it means major players are using the news to distribute; the premium will erode first, and latecomers will only see a faster drop.
Are you adding to your positions on this pullback, or waiting for the closing announcement?
$BTC $ETH $SOL
Metaplanet’s shareholders have officially approved the deal: 2,100 bitcoins plus $2.5 million in cash in exchange for approximately 95.7% of SLE’s common shares, for a total consideration of $134.6 million, or $3 per share.
Once the U.S. stock-market financing channel opens, expectations of additional share issuance to buy bitcoin will be priced in before the deal actually closes. In the short term, as long as the previous high holds as support, any pullback is a zone for bulls to add to their positions, and a test of higher resistance is more likely. If support breaks, it means major players are using the news to distribute; the premium will erode first, and latecomers will only see a faster drop.
Are you adding to your positions on this pullback, or waiting for the closing announcement?
$BTC $ETH $SOL